Bloomberg Media CEO Justin Smith sent out the following to the staff on Tuesday morning:
At the heart of our efforts to build the world’s leading business and financial company in service of Bloomberg LP is a commitment to innovation as we create a next-generation media model with new products, services, and commercial strategies.While the media industry continues to face strong headwinds, we’ve successfully transformed our business to be majority digital (audience and revenue). We just closed our books for Q3 and I’m pleased to report a strong performance.
Our Q3 total advertising revenue grew +5% year-over-year, driven by digital growth in custom content, video, audio, and programmatic. September was our best digital advertising month ever – up +9% year-over-year. Digital advertising revenue has grown +25% year to date through Q3. Best of all, our Q4 advertising bookings are pacing even stronger.
Meanwhile, traffic across our digital network in August grew +21% year-over-year. Video across our owned and operated properties and on offsite platforms including Facebook, Twitter, and YouTube was a bright spot, reaching all-time highs and growing +48% and +210% year-over-year, respectively. We now have five launch partners secured for our forthcoming live breaking news network with Twitter, with more to come. These are exceptional results that should make us very proud....MUCH MORE
Tuesday, November 14, 2017
Bloomberg Media sees 5% increase in advertising revenue in third quarter