OLD Media Moves

Bloomberg Media expects 35 percent revenue growth this year

March 20, 2021

Posted by Chris Roush

Justin Smith

Bloomberg Media CEO Justin Smith expects it to report 35 percent growth in revenue in 2021, reports William Turvill of Press Gazette.

Turvill reports, “Smith said that Bloomberg Media has sought to respond to the decline in recent years of the ad market through ‘invention-led growth.’ In the last five years, he said, the company has launched six new businesses.

“Bloomberg Media is now on course for 35% top-line revenue growth this year, he said, taking it to ‘peak historic’ levels.

“Bloomberg Media’s new businesses include its Quicktake streaming channel and its consumer subscriptions arm, which launched in 2018 and has built up to more than 250,000 paying readers.

“Smith recently said he expects this figure to increase to 400,000 this year. The consumer media subscriptions arm is separate from Bloomberg’s pricier B2B terminal subscription business, which has around 325,000 subscribers, according to a recent Axios report.”

Read more here.

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