Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Bloomberg

Bloomberg's new Twitter network will launch on Dec. 18 with six founding partners: Goldman Sachs, Infiniti, TD Ameritrade, CA Technologies, AT&T and CME Group — and more are in the works. The average price point of the partnerships is $1.5 to 3 million, leading to Bloomberg securing eight figures in revenue in its first year.

Why it matters: The investment is a part of a major digital push by the company to stay competitive in an era where Google and Facebook have tightened their grip on the digital advertising market.

The details: Bloomberg is hiring around 50 people to staff the new project, which will exist as the first 24-hour social news network on Twitter.

"In this age of the Google/Facebook duopoly, a relentless focus on invention and innovation is the only way to succeed," says Bloomberg Media CEO Justin Smith. "The fruits of disruption don't and shouldn't only belong to the dominant tech (aka "Media") platforms."

"Massive growth opportunities are available to all, but they require companies and leaders aggressively committed to new thinking and new models," says Smith.

  • Bloomberg Media's digital advertising revenue has grown over 25% year to date, through Q3 and Q4 advertising bookings are pacing even stronger. The company just has its best-performing quarter ever, largely thanks to advertising sales revenue. Its Q3 total advertising revenue grew more than 5% year over year, driven by digital growth in custom content, video, audio, and programmatic.
  • Bloomberg today offers 27 different ad tech products, which are developed in-house. The site's current design is a product of in-house engineers pushing for a clean, scrolling user experience that mimicks the interactions a user would typically see on a tech platform. An in-house product called Javelin was built to cut page load time by 30-50%.
  • Bloomberg has so far collected data on more than 1 million users across its digital platforms, driving personalization on its site and apps and helping its newsroom automatically tag stories with metadata.
  • Data-driven insights have also become a major revenue stream for Bloomberg, with ad products like Trigr that allow marketers to buy ads in response to the markets in real time.

A commitment to digital has transcended to Bloomberg's TV and video strategy, with strategic investments in over-the-top and connected devices. On Amazon, Bloomberg recently launched a new video flash briefing for the Echo Show device in July, which has doubled in audience-size since March.

Traffic to Bloomberg's OTT platforms grew +12% month over month from August to September, driven by Apple TV and Samsung TV viewership.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Hospital crisis deepens as holiday season nears.
  2. Vaccine: Moderna to file for FDA emergency use authorizationVaccinating rural America won't be easy — Being last in the vaccine queue is young people's next big COVID test.
  3. Politics: Bipartisan group of senators seeks stimulus dealChuck Grassley returns to Senate after recovering from COVID-19.
  4. States: Cuomo orders emergency hospital protocols as COVID capacity dwindles.
  5. Economy: Wall Street wonders how bad economy has to get for Congress to act.
  6. 🎧 Podcast: The state of play of the top vaccines.
2 hours ago - Health

First blood test to help diagnose Alzheimer's goes public

Photo: Jerry Naunheim Jr./C2N Diagnostics via AP

A non-COVID medical breakthrough: People over 60 now have access to a blood test for Alzheimer's disease.

Why it matters: The existing PET brain scan test costs some people about $5,000 and often isn't covered by insurance, AP reports.

Updated 2 hours ago - Politics & Policy

Wisconsin, Arizona certify Biden's victories

Photo: Demetrius Freeman/The Washington Post via Getty Images

Arizona and Wisconsin officials confirmed the presidential election results in their states, formalizing President-elect Joe Biden's victories in the key battlegrounds.

Why it matters: The moves deal yet another blow to President Trump's efforts to block or delay certification in key swing states that he lost. 

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!