Bloomberg Businessweek preparing iPhone app

Bloomberg is set to launch an iPhone app for Bloomberg Businessweek within the next few weeks as it looks to expand its global reach, reports Lucy Tesseras of New Media Age.

Tesseras writes, “New media age has seen a sneak preview of the new app, which mirrors the look and functionality of the Bloomberg Businessweek iPad app launched in April last year, as well as the newly revamped website, businessweek.com (pictured), unveiled earlier this week.

“Oke Okaro, Bloomberg global head of digital and mobile, highlighted that while 8% of the print magazine’s readership is outside the US, 35% of the iPad audience is, and he expects the global reach on the iPhone to be even greater.

“‘The iPhone launch will absolutely open us up to a larger, broader audience,’ said Okaro (pictured). ‘The iPad has already done that and the iPhone has at least a four times bigger install base. It will enable us to deliver to our audience in a much more convenient way and will also drive greater engagement among existing users because the iPad is more lean back.’

“The iPad app has more than 100,000 subscribers, while the current print circulation is 980,000.

“He also pointed out that the speed at which global markets can be reached through the iPad is much faster than with the print edition because Bloomberg doesn’t have to physically distribute the title to each region.”

Read more here.