NEW YORK (AdAge.com) -- Bloomberg has delivered a lot of new attention to Businessweek, which it bought last fall and redesigned this spring, but now it wants to attract new looks for the other magazine it owns: Bloomberg Markets, a title sent monthly to the financial elite who use Bloomberg terminals.
Bloomberg wants the magazine to attract a broader array of advertisers than just the energy companies, banks, derivatives brokers and arcane investment vehicles that usually predominate.
So Bloomberg Markets is introducing a redesign by the well-known designer Robert Priest with its November issue; planning an ad campaign by JWT, the company's agency of record since February; and broadening editorial coverage of personal investing. It has hired more ad sales reps in Europe to better chase its competitors' business.
"You're being read by the people with the most at stake around the world," said Matthew Winkler, editor in chief at Bloomberg News. "These are the people who do what they want to do, go where they want to go and have what they want to have. If you're an advertiser, that is literally the best reader you could have."
Bloomberg Markets isn't particularly trying to attract a broader pool of readers. Newsstand sales have increased this year, but still averaged just 6,154 in the first half, according to the magazine's circulation report with BPA Worldwide. Its circulation is growing, to 325,210 in the first half from 314,490 in the first half of last year, and its guaranteed delivery is growing, to 355,000 at the end of the year from 338,000 now and 315,000 before that, because Bloomberg terminals have been growing. "It's a very targeted, very exclusive audience," said publisher Michael Dukmejian.
Because the magazine primarily reaches terminal users, though, not people who've subscribed or picked it up on newsstands, rival business and finance magazines will argue that their readers want them more and are more likely to read them. Research commissioned by Bloomberg Markets shows that it is well read, but the title isn't measured by GfK MRI, whose syndicated research provides a yardstick that media buyers use to compare magazines' audiences.
One media buyer said she buys advertising for her client, an international airline, in Bloomberg Markets because it seems to deliver the rarified audience she's looking for. "I'm trying to find a needle in a haystack, which is what my demo is," said Sharon Probolsky, media supervisor at the Irvine, Calif., office of Mediaedge:cia. "I tend to think some of those needles are reading that magazine, or at least using the Bloomberg terminal and therefore hopefully reading the magazine as well."
"It would be better if I had some of the same metrics that I have with other magazines," she added. "I'm pretty convinced that the people who use Bloomberg terminals are our target , so there is a bit of a leap of faith that the people who use the terminals also read the magazine."
Ad pages in Bloomberg Markets' issues from January through August increased 17.3% over their level in the first eight issues last year, according to the magazine. Ad pages from January through August grew 8.2% at SmartMoney and 4.9% at Kiplinger's Personal Finance, but other business and financial magazines came in flat or declined so far this year, according to the most recent figures available from the Media Industry Newsletter.