Bloomberg Media is expanding its portfolio to provide more general business and lifestyle content to readers, instead of just straightforward markets and business news, executives tell Axios.
Driving the news: On Thursday, the company will launch Bloomberg Wealth, a new editorial vertical to help readers and viewers make smarter decisions about their personal finances, including divorce and moving.
Bloomberg Wealth will include 6 pillars: Investing, Savings & Retirement, Taxes, Living (where to live, renting vs. buying, divorce, etc.), Reinvention (education, careers, networking, starting a business), Opinion and Advice.
- It will include data-backed tools designed to help readers navigate key financial decisions and moments in their lives as well as a weekly newsletter.
- Education, real estate, careers, stock trading, ETFs, and cryptocurrencies will also be covered via new features within Bloomberg Wealth.
Bloomberg has recently expanded into an array of new verticals, including health care ("Prognosis"), auto ("Hyperdrive"), climate ("Bloomberg Green"), cities ("Bloomberg CityLab") and the business of entertainment ("Screentime").
- It's offered subscription bundles with The Athletic, a consumer sports media company, as well as The Information, a business and tech media company.
- It also created Bloomberg Quicktake, a business network for streaming and social media.
The big picture: Amid the fight for readers' attention, more media companies are looking to become a bigger part of a readers' daily lives, instead of just their professional news source.
- The New York Times has pushed aggressively in recent years to increase subscriptions by offering readers more lifestyle services, including apps around things like Cooking and Crosswords, as well as verticals around topics such as Parenting and Wellness.
