Hugh Wiley took over as publisher of Bloomberg Businessweek last June after previously holding the same position at Time Inc.'s Fortune. Prior to that, he was the publisher of Fortune Small Business and president of Time Inc. Latin America.
Wiley is using that experience to help shepherd the aggressive innovations Bloomberg is bringing to Bloomberg Businessweek, a brand it acquired from McGraw-Hill Cos. in 2009.
His initial success has been remarkable: In the fourth quarter, Bloomberg Businessweek's advertising pages surged by almost 50% from the year earlier period, according to Publishers Information Bureau figures. “We're thrilled with the number,” he said. “To be up 49% is almost a nice round number, although we fell short of 50%.”
With Wiley at the helm of the brand, Bloomberg is attempting to revitalize and reinvent the weekly business magazine. He explained the success so far simply: “It goes back to the product.”
The magazine has access to more than 2,000 Bloomberg journalists, and its editorial pages feel denser with content than they had in recent years. Additionally, the magazine provides more international coverage by drawing on Bloomberg journalists in 75 countries.
“We're getting a big check mark for being comprehensive,” Wiley said. “We're getting a big check mark for being global.”
The print magazine and its website are also helped by Bloomberg's commitment to integration. “Integration has been part of it,” Wiley said, adding: “When we rebranded and relaunched a year ago, it really gave us a lot of momentum. We could feel that momentum pick up in the fourth quarter. We've been surprised and very happy that in the first quarter we've grown even further.” —S.C.