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Friday 5th November: Is Trump to blame for Bloomberg Media missing its subscription targets
Remember, remember... today's newsletter is brought to you by Chris.
CEO interview: Business booms for Bloomberg Media thanks to ad ‘windfall’ and 350,000 subs — www.pressgazette.co.uk
Bloomberg Media has always been an odd beast, with some advantages that aren't easily replicated. Unsurprisingly, then, it is reaping the benefits of a number of its unique benefits, particularly where they intersect with the traditional revenue strands of advertising and revenue.
For Press Gazette, Will Turville examines what's behind that relative success. Notably, however, Bloomberg's CEO Justin B Smith points out that it is still going to miss its subscription targets for the year, for which he blames the absence of a certain tangerine-faced would-be despot:
'"We are not going to hit 400,000,” he says. "And the reason for that in fact is that we’ve seen, post the Trump era and post the January 6 insurrection, there’s been a significant downturn in the news cycle. So we’ve seen flatter traffic across this year than we’ve historically seen."'
Breathless proclamations about how The Youngs are only interested in their TikToks and Gangnam Styles aside - quality shortform video is hard to do well. This look at how the Harvard Business Review approaches it is worth a read. Long story short - it's as much about listening as creating.
Love this headline and love the story - some good old fashioned media in-fighting and skepticism. Punchbowl, a media company launched earlier this year by a few former Politico staffers, has been the subject of some breathless media coverage lately - but Defector is pricking that bubble by taking a look at its subscription numbers in greater detail.
One of the big revelations to have emerged from the publication of the Facebook papers was quite how much focus it puts on the US to the detriment of the rest of the world. Well, it turns out publishers aren't too innocent in that respect, as many non-US publications are still struggling to get their hands on those documents, even as the consortium winds down.
This week's podcast:
This week we hear from David Adeleke, Founder of CMQ Media and creator of the Communiqué newsletter. He outlines the complexities of using African media as a catch-all term, how podcasts are growing across the continent, and why an acquisition last year by Stripe has provided a lightbulb moment for technology investors.
Join Media Voices, What’s New in Publishing and Sovrn in a virtual event to launch this year’s Media Moments report, followed by a panel of publishing experts discussing how they will be navigating challenges and opportunities in 2022 and beyond.