Bloomberg Media CEO takes to Medium to talk about effort to build ‘digitally-led, multi-platform media company’
The CEO of Bloomberg Media used Medium to announce new efforts to, as he wrote, “to build a leading digitally-led, multi-platform media company for global business.” Medium is fast becoming the go-to platform for media posting, replacing Tumblr in that regard.
Justin B. Smith, CEO of Bloomberg Media Group, said the company plans on launching new ‘digital destination’ properties. The move will involve redefining the differences between Businessweek.com and Bloomberg.com. Bloomberg bought the BusinessWeek franchise from the McGraw-Hill Companies in 2009 for a low sales price plus the assumption of liabilities.
“Today, we offer consumers two digital entry points in Bloomberg.com and Businessweek.com, but the differences between them are not as clear to consumers or advertisers as they could be,” Smith said. “Bloomberg.com is a general business offering, but users rely on it primarily for its markets and finance content. Businessweek.com is a magazine companion site still searching for its digital rhythm. Our digital branding and product strategy needs to be clear and intentional. Consumers should have no doubt about the nature and value of our digital offerings.”
Bloomberg will build new ‘digital assets’ in a move that looks a bit like efforts by First Look Media and other New Media companies to create new real estate and reach new niches.
Despite the digital initiatives, Smith reiterated the company’s commitment to print, saying the company “will also expand our international footprint through more aggressive licensing efforts. Transforming our print publications into wholly multi-platform brands will propel them to their fullest potential.”