Tag Archives: Bloomberg

Radio 4: Peter Day on business media’s struggle for survival

Last week’s Radio 4 In Business programme looked at business newspapers and how some of the world’s best known-brands are struggling to compete with online rivals and in the face of the economic downturn.

Well worth a listen at this link, it includes interview with representatives from the Wall Street Journal, the Economist, Bloomberg and Bloomberg Business Week.

Business Insider: Bloomberg.com’s new look

Business Insider has grilled Kevin Krim, global head of Bloomberg Digital, on the site’s new design.

Krim says:

We felt it was critical to create a new platform, a new palette, a new canvas to deliver a must-use site for news throughout the day, every week. We already have a good global audience, we want to grow that.

(…)

We’re also focusing on aggregation. We’ll link to third party sites if we think its relevant to our audience, we’ll show it, no matter who it’s done by. There’s not a lot of options for business people. When they wake up in the morning, we want to be their one stop.

He also admits the re-launch is part of some serious rivalry:

BI: So, basically you want to kill your rivals like the Wall Street Journal, FT, Reuters?

KK: That’s the idea.

Full post at this link…

TV news anchor faces law suit from rival channel

Via Livemint.com, an Indian business news site launched with the Wall Street Journal, comes a report of an extraordinary legal case in India.

I noticed this a while ago, but have only recently had this confirmed by Bloomberg UTV.

Indian business channel Bloomberg UTV is pursuing legal action against the managing editor of CNBC TV18, Udayan Mukherjee, following comments he made on air about a rival channel. It alleges his comments were ‘false’ and ‘slanderous and derogatory’ to the channel’s reputation.

In response, Mukherjee’s lawyers claim that he did not make any reference to Bloomberg, directly or indirectly.

You can see the original video at the centre of the row on Livemint.

Bloomberg UTV’s spokesperson confirmed to Journalism.co.uk that it has decided to go ahead with its RS 500 crore legal suit (around US$109 million).

Talking Biz News: Bloomberg planning new ‘wire within a wire’?

According to Talking Biz News, Bloomberg is planning a new product scheduled to launch this summer, named ‘First Word’.

The new service, called by one employee as a “wire within a wire,” is designed to compete against StreetAccount. Street Account is a service where writers use their market experience to report “only those stories that are new and material” to investors, according to its website.

Full post at this link…

paidContent: BusinessWeek sale to Bloomberg – told in links

Bloomberg will acquire BusinessWeek magazine from McGraw-Hill Cos, it was announced yesterday. The terms of the arrangement were not made public, but ‘knowledgeable sources’ said the price is between $2 million and $5 million, reports BusinessWeek.

The BusinessWeek sales process has had ‘plenty of turns’ over the last three months, paidContent comments. It charts the sale to Bloomberg though its archive of links.

Editor&Publisher: WaPo and Bloomberg partner for global news wire

The Washington Post and Bloomberg are to launch a new global news service next January offering 120 stories (plus photos and graphics) from the Post and agency.

The wire content will be available to subscribers to Bloomberg’s Professional service.

The move follows the Post’s announcement earlier this week that it would end its long-standing news wire service with the LA Times.

Full story at this link…

Paying for podcasts? A Times Online poll

Interesting poll currently running (well, at 2:54pm on July 24 at least) on Times Online asking if and how much listeners would be willing to pay to listen to its podcast The Bugle.
Times Online podcast payment poll

Of course this means nothing more than the podcast’s producer’s curiosity over whether its audience would be willing to pay. So far, 41 per cent of respondents have suggested they would pay something; though 59 per cent say they wouldn’t cough up at all.

It’s also quite refreshing to see a newspaper site ask its users outright – whether this means there are any plans to charge or not.

According to a Bloomberg report today, Jonathan Miller, chief digital officer with News Corp, whose News International arm owns the Times, has suggested the group could start charging for news and entertainment online.

Back in June, MediaGuardian reports suggested the Times’ sister title, the Sunday Times, was considering setting up a paid-for standalone webiste.

Tips and thoughts for journalists from Bloomberg’s former multimedia editor

Last week (Thursday May 28) Bloomberg’s former multimedia editor, Abhik Sen, spoke to journalism students at City University on a range of topics:

MPs’ expenses:
Revelations about MPs’ expenses would not have had as much impact if the story had been broken online, the former editor of multimedia at Bloomberg told students. “There are still some stories which work much better in traditional formats,” he said. “The MPs’ expenses story could have been broken in any format but it would not have had the same impact if it hadn’t been print.”

“The resulting chaos in Westminster probably would not have happened if it had broken on a blog or website. That medium just doesn’t have the same impact as the front page of a newspaper does.”

Sen added that the gradual ‘drip feed’ of information in the daily papers and sustained ‘wall-to-wall coverage’ in the Daily Telegraph allowed the story to build a momentum that would not have been possible in the rolling news environment of the web.

Where multimedia works best
He emphasised that online journalism continued to surpass traditional formats in  providing ‘more detailed, more thoughtful’ coverage and a ‘360 degree view’ of any story.

“For the swine flu story, for example, you get the headlines in the newspapers and the footage on the television channels, but for a comprehensive view you have to go online and look at videos, stories, first person pieces, interactive graphics, maps,” he said. “That rule holds true for pretty much every big story, from Obama to climate change.”

“TV and newspapers are the entry point for the news cycle,” he added. “Only people who are particularly interested in a story will then go digging for more stuff online. But that’s when they will expect comprehensive, meaty content.

“Then, multimedia journalists have to take the game to the next level: beyond the headline, beyond the immediate soundbite.”

Sen’s tips for journalists
“In tomorrow’s world, which is pretty much today’s world, there is no media organisation which is not thinking multiplatform,” the former multimedia editor at Bloomberg. “Everyone will have to be a multimedia journalist of some sort. The earlier you get familiar with the grammar of multimedia, the easier and better it will be.”

  • Planning is important. “Most bad multimedia pieces flounder because not enough thought has been put into what you are trying to communicate,” he warned. “Think about how your story could best be told and what sort of interactivity you want to offer.”
  • Get creative. The challenge for multimedia journalists covering diary stories, such as the G20 protests, is to find a way of reporting that is “original, refreshing, different from the newspapers and television, and yet complimentary,” said Sen. “You must build on what others have done, but also do what others cannot do.”
  • Think flavour, not just facts. “In a multimedia piece, you need to convey not just who was there and what happened, but what was it really like?” he said. “You need to capture things that make the piece alive. They might look small at production stage, but become really interesting and useful at the editing table.”
  • Less is more. “Five minutes is an eternity in news time,” he warned. “Most multimedia pieces won’t ever run for more than a few minutes.”
  • Always shoot action and emotion. “It doesn’t need to be someone fighting a war, but you need mobility or some dynamic element,” he advised. “It might be someone’s eyes floating from left to right, clinking glasses, natural sunlight.”
  • Develop skills beyond conventional journalism, or work with somebody who has. “A graphic designer is critical to a multimedia project,” said Sen. “It’s up to them to bring all the elements together and present them in a way that can either make or break a multimedia piece.”
  • Keep the big picture in mind. Remember that neither audio or visual will ever work alone in a final multimedia production. “They will be next to text, or on top of a picture, so always have an idea of the final product in mind,” said Sen. “Then you don’t always have to face the dilemma of dropping or cutting to fit.”
  • But if in doubt: “Shoot first, make up your mind later,” he advised.

Sen, who spent more than a decade as a television and newspaper journalist before joining Bloomberg, added that these skills should be developed in addition to, not at the expense of, the traditional journalist’s toolkit. “The nuts and bolts remain the same. Good journalism, solid reporting, news judgement and good writing skills are as important online as off,” he said.

Sen’s favourite multimedia packages:

  • Economy Tracker by CNN: “Somebody has done the hard work of crunching numbers and then somebody has made it into a really visual, interesting piece of work,” said Sen. “It’s a good example of telling a big story simply but effectively”.

Related link:

Alison Battisby’s report on her blog: ‘Everyone will be a multimedia journalist,’ says ex-Bloomberg editor.

Lara King is a freelance journalist and blogs on the media at www.lara-king.co.uk.

Survey: Financial leaders turning to broadcast channels for news?

The financial world’s decision makers are turning to TV channels for their news, according to research from the Global Capital Markets Survey (GCMS).

CNN International was the most popular news channel amongst these users, the survey suggests, above BBC World, CNBC and Bloomberg, according to a press release.

There’s a full breakdown of the media sources and their audiences within this sector at this link.

According to the results, CNN.com and CNNMoney.com were ranked second behind Bloomberg in terms of popularity for news sites – closely followed by Reuters.com, FT.com and WSJ.com.

The research was conducted by the Think Media Consultancy on a group of senior bankers, chief financial officers and treasurers of the world’s largest financial organisations, over a period between October 2008 and March 2009.