Examining Bloomberg’s revised strategy

Julia Greenberg of Wired examines Bloomberg’s editorial strategy in the wake of layoffs on Tuesday.

Greenberg writes, “In essence, Bloomberg will follow what seems like the paradoxical imperatives for any media company, especially those that aren’t flush with venture capital cash: become more niche but also more global; and get leaner while also spreading to as many platforms as possible.

“In reorganizing, Bloomberg will eschew general interest reporting on topics like sports and education in favor of a stricter focus on business and markets. To stay competitive, Bloomberg seems to feel it must resist the broad industry trend of homogenization in favor of becoming more like itself—the essential source, especially for paying Bloomberg terminal users, for business, markets, and financial news.

“This isn’t so different from The New York Times‘ recent efforts to remind its audience of its signature investigative reporting in recent months via  news alerts highlighting its biggest stories. Bloomberg bearing down on business is also somewhat like BuzzFeed expanding its video offerings. By focusing on its strengths, all three hope to differentiate to reach the broadest possible audience.”

Read more here.