Categories: OLD Media Moves

Bloomberg signs deal with UMichigan for consumer confidence data

Investors will no longer be able to get a sneak peek at the University of Michigan’s consumer confidence survey after the university agreed to allow Bloomberg LP to distribute the economic indicator starting next year, reports Brody Mullins of The Wall Street Journal.

Mullins writes, “Under the terms of the five-year contract, the university’s consumer confidence survey will be distributed each month by Bloomberg to its clients through a news story about the survey results. At the same time, the university will release the survey’s findings on its website.

“Bloomberg, which will take over distribution of the consumer confidence survey from Thomson Reuters Corp. in January 2015, said it would end the practice of charging investors a fee in exchange for an advanced copy of the survey.

“‘This agreement ensures that we will be able to maintain the high quality of these surveys for the foreseeable future, and supports our strong commitment to open access to research data,’ said James Jackson, the director of the university’s Institute for Social Research, which produces the monthly survey.

“The new arrangement comes after a Page One article in The Wall Street Journal last year described how the University of Michigan and several other entities that produce market-moving surveys often sell an early look at the results to investors.

“Under the previous contract, Thomson Reuters paid more than $1 million a year to be the exclusive distributor of the University of Michigan’s survey results. Reuters charged investors more than $5,000 a month to get the results before they were made more broadly available.”

Read more here.

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.

Recent Posts

PCWorld executive editor Ung dies at 58

PCWorld executive editor Gordon Mah Ung, a tireless journalist we once described as a founding father…

20 hours ago

CNBC taps Sullivan as “Power Lunch” co-anchor

CNBC senior vice president Dan Colarusso sent out the following on Monday: Before this year comes to…

2 days ago

Business Insider hires Brooks as standards editor

Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm excited to share…

2 days ago

Is this the end of CoinDesk as we know it?

Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

3 days ago

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

4 days ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

5 days ago