Bloomberg Law and Bloomberg Government sell specialized information for, you guessed it, lawyers and those who work in politics, respectively. Bloomberg's terminal revenues for accounted for approximately Bloomberg Law opened for business in , and its model is unusual in comparison to its established competitors such as LexisNexis.
The former charges a flat monthly fee, rather than per use. Bloomberg Law subscribers can learn about breaking decisions, which judge owns how many shares of which publicly-traded company, the implications of the latest sections added to the existing ones of the Internal Revenue Code , and more.
Yes, that information might be available to anyone willing to dig for it, but Bloomberg knows digging can be labor-intensive and daunting for its customers. Probably not, but if you do, Bloomberg Government will gladly give you access to a full transcript, from opening to adjournment.
Bloomberg Government will tell you almost instantly. The inefficiency and sclerosis of the legislative process might be tiresome for ordinary voters, but it offers a market opportunity for Bloomberg. Bloomberg Beta was created to stand on its own merits and turn a profit rather than be bankrolled by the existing Bloomberg businesses.
Bloomberg also operates a handful of other, smaller concerns, such as its enterprise data management division, PolarLake, which manages and interprets complex data sets for clients both large and small, saving them money and time. Bloomberg View has a roster of renowned columnists whose work is syndicated in various print publications and online.
Again, all this is minor compared to the billions upon billions brought in by Bloomberg Professional Services. Throughout its history, Bloomberg has been in the position of either brash new competitor or individual player with a market unto itself.
Rarely has it been the legacy company facing off against young and nimble competitors, at least not until the advent of Symphony, the Alphabet Inc. But Bloomberg is still the go-to service for hundreds of thousands of financial professionals who swear by its ease of use and reliability.
Somehow Bloomberg came out of the scandal without sustaining any long-term damage. In , Bloomberg continued a long-term process of diversifying its revenue streams.
While Bloomberg terminals still enjoy what is essentially a monopoly, that may not be the case forever. Bloomberg has enjoyed being the dominant player in what has essentially been an industry of one for most of its existence. That being said, the company has not taken that for granted, and in nearly four decades has grown its list of offerings tremendously.
With greater diversification—outside of the Bloomberg terminal product, or even outside of the world of finance altogether—comes the increased likelihood that the company will weather future storms. Bloomberg has faced legal troubles in its past, including a class action suit regarding female employees and maternity leave, and it has also faced challenges related to data breaches, as indicated above.
Newcomers in the finance data analytics field have come and gone, but that's no guarantee of Bloomberg's dominance in the future. Still, though, it seems unlikely that this dominant company is going anywhere anytime soon. Company Profiles.
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The company generates revenue from subscriptions and fees associated with Bloomberg terminals as well as a variety of other services including Bloomberg News and Bloomberg Business, focused on venture capital, brokerage, and more. Bloomberg terminals are essentially unrivaled within the finance world and have contributed to the company's massive growth in its year history. Fast Fact Bloomberg founder and former mayor of New York City Michael Bloomberg launched the company in after receiving a settlement when his former firm, Salomon Brothers, was acquired.
She has a B. Smith School of Business at the University of Maryland. He joined the company from Bloomberg L. Mike McCarty oversees all areas of finance, including financial planning and analysis, accounting, payroll, pricing, customer operations, and controls. McCarty has more than 25 years of related business experience in the technology and information services industries. Eric Schvimmer is executive vice president of technology and is responsible for setting of the direction and leading technology operations, design, and development.
Newsweek Interactive. Peter Sherman is general counsel, overseeing the company's legal functions and providing guidance and counsel to all areas of the business. Before joining the company, Sherman was senior in-house counsel in Bloomberg L.
He received a B. Jen leads the corporate marketing organization, overseeing marketing strategy, brand management, and communications. Prior to joining the company, Jen spent eight years at Bloomberg L. With a firm focus on the future, Bloomberg has transformed the landscape of business and financial intelligence, creating solutions that are always one step ahead.
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