BLOOMBERG’S NEW GLOSSY: Besides its wire service and Businessweek, Bloomberg LP also owns Bloomberg View, Bloomberg Government and Bloomberg BNA, all new brands launched in the last two years that you probably have never heard of.
To show them off, the company on Monday launched a new glossy magazine, Bloomberg Insider, that runs for the duration of both the Republican and Democratic National Conventions, and features exclusive stories by staffers from various Bloomberg divisions.
It is meant to “elevate the visibility of Bloomberg and showcase all the various resources we have,” said Insider editor Tim Franklin.
Franklin pointed out BGov is relatively new — it launched last January — and needs the exposure.
“It’s one thing to have a Web site or an app; it’s another to put a printed copy under someone’s nose,” he said.
Bloomberg has printed 15,000 copies, with 10,000 of them distributed free of charge at each convention, and the rest in Washington.
While some publications lay off staff and cut budgets and frequency, Bloomberg, Reuters and Politico have expanded hiring to supply these lucrative subscription services. Bloomberg alone has 1,600 staffers in Washington.
BNA and BGov, as it’s dubbed internally, both provide specialized data and analysis to lobbyists, policy wonks and other Beltway geeks, and View is an opinion site that counts Michael Kinsley and Jeffrey Goldberg as columnists, similar to Reuters’ Breakingviews. Politico Pro offers tradelike coverage of the military and the energy sectors.
Reuters has also experimented with site-specific magazines, at Davos and the Aspen Ideas Festival.
The first Insider issue, with a cover story headlined, “What Happens if Mitt Gets the Ball,” by News reporters, debuted Monday at a breakfast at the swanky Jackson’s Bistro, which the company had taken over as the site of its Bloomberg Link, a hub for its convention events and nerve center for the 90-plus reporters and editors — chief content officer Norman Pearlstine among them — in attendance. The Huffington Post and Google have similar outposts — a spa, Oasis and a media lounge, respectively.
Franklin declined to offer financial specifics for Insider, but said it’s “a substantial investment.”
Part of the printing expenses are covered through a partnership with American City Business Journals, which owns publications in Tampa and Charlotte, N.C. Franklin said Pearlstine has raised the possibility of doing other similar one-off magazines.