What’s behind Bloomberg’s strategy in Great Britain

Seb Joseph of Digiday writes about Bloomberg’s recent expansion in Great Britain.

Joseph writes, “Bloomberg Execs are hoping this extends to business journalism — especially as its own subscriptions in the U.K have been on a tear (growth was up 30% in 2021 alone). And they may have a point. The current economic plight is a big story that’s only getting bigger. It’s not hard to see why those who can afford a Bloomberg subscription might buy one.

“‘We’ve been here in the U.K. for a long time with a newsroom of over 500 journalists and analysts, but we’ve always served the core reader that is the Bloomberg terminal customer that has used our news service,” said David Merritt, senior executive editor at Bloomberg News. ‘But we’ve never thought about packaging and promoting our work to the broader audience in the UK who are interested in business and finance.’

“This is the real litmus test for how well Bloomberg Media’s plan works, if at all. It can’t win over the broader audience Merritt previously cited by chasing stories only the likes of bankers and financial traders would read. Now, there’s a clearer focus on what people across the U.K. might want to know about the economy. This puts Bloomberg Media up against the likes of the Financial Times and the Times — staples of business journalism in the U.K. ”

Read more here.