Bloomberg Media expects to hit $100 million in consumer subscriptions in 2021

(PRNewsfoto/Bloomberg Media)

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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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.