Number of Bloomberg terminal users shrank in 2016

The number of Bloomberg terminal users shrank in 2016, just the second time in the company’s history that its users were down for a year, according to Finextra.

The terminals are a main distribution source for Bloomberg News content.

Finextra writes, “Bloomberg accounted for 33.40% of market share as a result of growth in its data feed and other non-terminal business. At the same time, terminal counts shrank for only the second time in company history.

“Users typically pay an annual fee of between $20,000-$25,000 for the privilege of running a single proprietary Bloomberg machine, with the terminal subscriber base standing at 325,000 in October 2016.

“JPMorgan Chase, Bloomberg’s second-biggest client, was reportedly negotiating a contract with Thomson Reuters in January 2016 to replace at least 1000 to 2000 terminals worldwide during the next two years, saving the firm anywhere up to $36 million in charges.

“Despite the black box push-back, the privately held financial software, data, and media company goes from strength-to-strength, generating $9 billion in revenue last year and cementing founder Michael Bloomberg’s place at number ten in Forbes’ annual list of the wealthiest people on earth.

“Bloomberg’s biggest rival, Thomson Reuters, saw its market share contract to 23.14% from 24.24%, although revenue was flat on a constant currency basis and the company showed positive net sales in each quarter of 2016.”

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