Bloomberg is also investing in original programming and has seen a surge in live experiences post-pandemic. The company is also utilising AI for tasks such as writing straightforward news stories, summarising articles, audience modelling, and predicting user subscription likelihood. Despite potential disruptions from the end of third-party cookies by Google, Havens is confident in Bloomberg's early investment in collecting first-party data. He also sees significant opportunities in the growth of streaming and the shift from traditional TV advertising.
Key takeaways:
- Bloomberg Media is revamping its audience strategy to focus on engagement and building direct relationships with its audience, following a significant decrease in traffic from Facebook due to changes in the platform's algorithm.
- Bloomberg's new strategy includes enhancing its offerings, launching a new marketing campaign, accelerating website performance, streamlining user experience, and introducing new personalisation features.
- Despite the challenges, 2023 has been a relatively good year for Bloomberg with a resurgence of advertisers' activity and an expected increase in ad revenue in the Middle East and Asia Pacific.
- Bloomberg has been integrating AI and machine learning into its operations for over eight years, using it for tasks such as writing stories, summarising articles, audience modelling, predicting user subscription likelihood, and translation services.