Bloomberg Media hits 300,000 subscribers
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.