Bloomberg Media is expecting to bring in at least $100 million in consumer subscription revenue in 2021, according to an internal memo sent to staff from CEO Justin Smith, reports Sara Fischer of Axios.
Fischer reports, “Prior to the launch of its consumer digital subscription business three years ago, Bloomberg LP made pretty much all of its subscription money from enterprise subscriptions to the Bloomberg Terminal, a data and content platform for financial professionals.
- ‘We see a clear path toward making subscriptions a nine-figure business in 2021, following a 135% revenue increase in 2020,’ Smith writes in the memo.
“By the numbers: Bloomberg Media expects to approach 400,000 consumer subscriptions in 2021, up from roughly 250,000 in 2020.
- “By comparison, The Bloomberg Terminal has around 325,000 customers.”
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