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Media Power 50: Bloomberg Businessweek expands global presence, content offerings

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Bloomberg Businessweek, which was relaunched in April 2010 following Bloomberg's acquisition of BusinessWeek from McGraw-Hill Cos. in 2009, has grown its global footprint and boosted its integrated offerings of print, online, mobile, social, events and custom content. “Since Bloomberg bought BusinessWeek, the quantity and quality of the content are at a whole new level,” said Ted Kohnen, CMO at b-to-b agency Stein IAS, New York. “They have great editorial, topically relevant content—of the moment—written in such a way that I feel keeps the user engaged from cover to cover,” Kohnen said. “When we think about media placement, there is more of the Bloomberg Businessweek publication you can have, with great readership, without having to buy more expensive ad units.” Hugh Wiley, who was named publisher of Bloom-berg Businessweek in June 2010 after serving as publisher of Time Inc.'s Fortune, describes the transformation of the publication as “total.” “We have redefined what a business magazine should be,” Wiley said. “We have completely rebranded the magazine. It is no longer BusinessWeek—it is Bloomberg Businessweek.” Wiley said one of his priorities since joining Bloomberg has been drawing on the resources of the company's more than 2,300 journalists in 146 bureaus across 75 countries. “That was job No. 1,” he said. “Redesigning the website was the next job at hand. That's complete.” The redesigned website, which debuted last year, is based on a new content management system that allows for up-to-the-minute updates on news stories and other content. It also features a revamped home page that integrates more photos, data and other visuals from the print publication. Chris Philip, senior VP-chief experience officer at b-to-b agency Doremus, New York, said, “The transformation of Businessweek has been phenomenal. What Bloomberg gave Businessweek is creditability for global reporting. When the two companies came together, they were able to form a global editorial footprint.” Wiley said key priorities over the past year have been growing the publication's circulation and expanding its global presence. In the second half of last year, Bloomberg Businessweek's total paid circulation was up 6.4% over the second half of 2011. Contributing to this effort were the introductions last year of local editions of Bloomberg Businessweek in Europe and Asia. BusinessWeek had discontinued such editions in 2005. “We achieved our goal of 40,000 new circulation in Europe and Asia [each], against which we achieved our revenue goals,” Wiley said.
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