When you take a single brand like Bloomberg or The Atlantic and you diversify, you diversify all the way — as far as you can. That’s been the main change. To me, it’s all the same revenue in a sense, in that it’s all relationship revenue. 24). What it didn’t represent until relatively recently was streaming video — an online channel first known as TicToc and then, when the app TikTok annexed the world’s mindshare, rebranded as QuickTake. 8 Oct. 2020. I think of one little micro-innovation that we’ve developed at Bloomberg in particular — and we started with this a little bit with the launch of Quartz at The Atlantic. Our biggest lessons were in the discounting of the initial offer. We don’t acquire subscriptions that are not going to be profitable on a relatively short-term lifetime-value perspective. We see significant opportunity in the premium paid news subscription market as more and more consumers are willing to pay for high quality content.     | last = Doctor Bringing the art of storytelling together with the science of strategic audience targeting to deliver meaningful engagement, at scale, in a trusted, brand-safe environment. Smith then joined The Economist as the head of corporate strategy, working from London, Hong Kong and New York City. Doctor, K. (2020, Jun. “When things come back, as they will, I think that traditional advertising will probably suffer, and you want to move your business and your model to the place on the media chessboard where the dollars are going to be going” — the TV money that will follow the audience to streaming. Please note: The Wall Street Journal News Department was not involved in the creation of the content above. Our digital video views improved by 42%, driven by a record 29 million monthly off-platform views. The Nieman Journalism Lab is a collaborative attempt to figure out how quality journalism can survive and thrive in the Internet age. After running our Washington bureau, Megan relaunched Businessweek last year. Mr. Smith said that Bloomberg has been a little more reluctant to place its own content on giant tech platforms, though the company has seen success with a deal with TicToc is an example of a bold new idea. Today we’re operating at about 97 percent work-from-home globally. The same would go for a story on a new development at Amazon or a new development in U.S. politics or with the coronavirus. Targeting well-heeled business news readers with high digital subscription prices…while moving aggressively to lure a younger demographic into business news video, hopefully leading them into long-term Bloomberg customers. Honestly, from a product perspective with the Journal and the FT, we actually create more content and publish more content than the two main incumbents. There’s much more sophisticated virtual event software and other technology integration to make the experience much, much better. Smith is known as an innovator, viewed by many of his peers as a transformer. Twitter "Newsonomics: Bloomberg’s Justin Smith is investing in news when everyone else is cutting." "Newsonomics: Bloomberg’s Justin Smith is investing in news when everyone else is cutting." What we’re seeing now — and I say this with a lot more sadness than competitive happiness — is that all the players that were experimenting and trying to do this as well are retreating because of the coronavirus crisis. She wants to spend more time with her family in London. Launching with seven founding partners, TicToc has already been a commercial success. “I definitely think the music has slowed down to a very slow tempo, and people are looking at what chairs are left in the ballroom,” he said. Our daily email, with all the freshest future-of-journalism news. The spread of misinformation across FB 2.19% You’re seeing major job cuts and major pullback from any of the next-generation disruptors. You’re effectively offering a high-quality content unit that exists in a platform, and that’s been successful, too. “CMOs have been pouring their dollars into these environments because of great data, great accountability, and great ROI, but I think the context piece of it – which is ‘what kind of content are we around and what is the experience’ – has not perhaps come to the forefront of their thinking, and this fake news crisis brings that really front and center,” he said on the latest episode of the WSJ Media Mix podcast. The transition of ad dollars in America and around the world to OTT, over the next five years, is staggering. Talent, scale, superior tech, and continuous innovation are the keys to the Bloomberg Media model. As for the wider digital media landscape, Mr. Smith predicts there will be consolidation soon, as traditional and new media companies all do battle for ad dollars with Google and Facebook. Bloomberg Philanthropies’ successful Bloomberg Global Business Forum, which we support, will return to New York in the Fall. We obviously didn’t want to put that in jeopardy — not that we were selling out 100 percent of our inventory, but we were still nervous about calibrating the right meter level to not cannibalize or hurt our ad business. Doctor, Ken. And you’re seeing also pullbacks, frankly, from the large globally scaled traditional news organizations. to livestream some of its TV shows as well as the debates during the presidential campaign, he said. With every media under one roof, we help brands activate global connections with the world’s most influential audiences. All of that’s powered by what is probably the largest number of journalists working for any single company outside of Japan: 2,700 reporters, editors, and analysts working in 120 bureaus around the world. That actually does have costs associated with it. We finalized one of our most ambitious partnerships ever to create the leading multiplatform Arabic-language business media company, in partnership with Riyadh-based media company SRMG. It’s just amazing. So as we looked out at the opportunity for our consumer subscription business, the world is truly our focus and hopefully will be our oyster, because we have regional editions on the website. Bloomberg recently announced new leadership at its money-losing Bloomberg Businessweek magazine, for instance. This morning, we announced that Justin Smith, president of Atlantic Media, will be joining the company as Bloomberg Media Group’s CEO, which comprises our … “Bloomberg” is a Rorschach test of a word. It’s the same people doing that. New York — Bloomberg LP announced today that Justin B. Smith will serve as chief executive officer of Bloomberg Media Group, which comprises Bloomberg’s television, radio, magazine, }}, To promote and elevate the standards of journalism, Covering thought leadership in journalism. For more with Mr. Smith, check out the episode and subscribe to the WSJ Media Mix podcast on iTunes, Google Play Music, Spotify or Stitcher. It’s a project of the Nieman Foundation for Journalism at Harvard University. Accessed October 8, 2020. https://www.niemanlab.org/2020/06/newsonomics-bloomberg-medias-justin-smith-on-quicktakes-big-fall-launch-reader-revenue-and-promiscuity-and-the-super-ingredient-of-talent/. “Starting in September, we’re actually creating full streaming programming with anchors and shows and new series,” Smith says. Mr. Smith said the company will relaunch the title to make it more focused specifically on business and finance. She wants to spend more time with her family in London. That’s where we’ve experimented a lot and have been able to really increase our volume of profitable subscriptions. Obviously, both eyeballs and ad dollars are shifting, globally, to social video spending and to OTT spending. Bloomberg Media CEO Justin B. Smith on 2017 Success and 2018 Outlook. Photo of New York City’s Bloomberg Tower by. What’s the best way to follow how the news is changing? A new study shows how Trump and the RNC duped traditional media into covering mail-in voter fraud, The Trump Covid news broke in the middle of the night.     | title = Newsonomics: Bloomberg’s Justin Smith is investing in news when everyone else is cutting Bloomberg Media, headed by CEO Justin B. Smith, is investing in QuickTake, with a staffing up to 100, and big plans for fall. In our conversation, lightly edited for clarity, we talk about selling advertising in a Google-Facebook-dominated world, remote work, virtual conferences, paywall lessons, and QuickTake’s future. Newsonomics: Bloomberg’s Justin Smith is investing in news when everyone else is cutting. And then there’s like a chain link pulling to the digital product people who are capturing the journalism, the digital product format, who are deeply linked with the digital consumer marketing experts, who are deeply linked to the engineers. Learn about. For many, it represents the unique New York City politician whose presidential flirtations reshuffled our politics for a time. Nieman Foundation for Journalism at Harvard, 24 Jun. “We’re going to shift a lot of the business model burden from ad revenue to reader revenue,” he said. Bloomberg Media, headed by CEO Justin B. Smith, is investing in QuickTake, with a staffing up to 100, and big plans for fall. I’m really proud to see this large, multi-platform organization literally move into full 24/7 operation without any reduction in content volume, any reduction in speed, and in my view, in accuracy or in content quality to a large extent. In 2018, we will build on the success of key initiatives, develop new products and further our global expansion: Many media companies are facing the strong headwinds in the industry by simply rebalancing their portfolios.     | ref = {{harvid|Doctor|2020}} If you think about the scale of what we do around the world, we operate six global media platforms that all operate internationally.