Apr 20, 2021 - Economy

Bloomberg Media hits 300,000 subscribers

picture of bloomberg media ceo justin smith

Bloomberg Media CEO Justin Smith. Photo: Aniruddha Chowdhury/Mint via Getty Images

One to watch at this year's Upfront and Newfront advertising presentations (held virtually again in 2021): Bloomberg Media.

What to watch: Bloomberg will host its first-ever Upfront presentation exclusively for its streaming network "Quicktake." Most media companies are leaning into their streaming products as a part of their presentations this year.

Why it matters: Quicktake helps Bloomberg Media reach more potential subscribers. The streaming service has also helped the company boost its ad revenue over the past year.

  • Chris Paul, Scott Galloway and Imran Amed have recently been tapped to host shows for the network.

Driving the news: Bloomberg ended Q1 with more than 300,000 active subscribers, up from 250,000 in Q4 2020, executives tell Axios. 

  • Bloomberg Media CEO Justin Smith says that the company's revenue is up 30% from this time last year.  

The bottom line: "Q1's really strong year-over-year revenue rise versus a pre-pandemic quarter is the result of that strategy, and it's spurred by growth in every area from advertising to subscriptions and live events, says Smith.

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