Bloomberg TV revenues increase
April 15, 2016
By Chris Forrester
Bloomberg’s television broadcast service is a speciality all-financial news channel but it seems advertisers are perfectly happy with the product.
Bloomberg Media CEO Justin Smith told staff April 14 that its TV revenues in the US were up 27 percent year-on-year despite what he described as an “increasingly difficult media environment”.
Bloomberg’s detailed numbers will be released on May 10, but in a memo Smith told employees: “Total revenue is up more than 8% across Media, with year-over-year gains from our Global Ad Sales and Bloomberg Content Service teams. In digital ad sales specifically, our team increased revenue by 21% vs. last year on top of a sizeable baseline. US TV bucked industry trends by growing more than 27%. These numbers represent very significant accomplishments in what is an increasingly difficult media environment.”
He added that Bloomberg’s planned India joint-venture (Bloomberg Quint) is now live, as is a Japanese-language news site.