Bloomberg pulls ahead of Reuters in market share
Bloomberg LP has finally pulled ahead, with 30.44 percent market share in 2011 versus longtime rival Thomson Reuters‘ 30.05 percent, according to a report released Wednesday by Burton-Taylor International Consulting, reports Matthew Flamm of Crain’s New York.
Flamm writes, “Bloomberg’s move into first place has coincided with troubles at Thomson Reuters, which replaced its CEO at the end of last year following disappointing results for the Eikon market-data desktop product that the company launched in 2010.
“Overall spending on market data and analysis reached a new high in 2011, growing 6.1% over the prior year to $24.94 billion, according to Burton-Taylor. Even so, the year ended on a down note amid ‘uncertainty in the Western European economies and late-year contraction by market data users,’ Douglas Taylor, managing partner of Burton-Taylor, said in a statement.
“‘Much of the revenue growth was the result of price increases, currency conversions, and non-data related turnover such as transaction fees,’ he said.
“Manhattan-based Bloomberg has been gaining on its rival for years. In 2007, the year Thomson Corp. and Reuters Group agreed to merge, Bloomberg had 26% of the market, against Thomson Reuters’ 36%.”