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Bloomberg’s Krim: Our Paywall Won’t Be Like Everyone Else’s

Bloomberg.com began showing off its new look earlier today, but sometime in the next few months, the site will also be sporting a paywall around some of its content. In an interview with paidContent, Kevin Krim, the head of Bloomberg.com, offered a few more details about the next phases of the redesigned site, which is intended to build a broader audience — and a larger ad-supported revenue stream — for the financial news company’s offerings across the web and connect users to its other platforms on mobile and TV. “We think we can deliver a continuously relevant experience from the moment a business professional wakes up and turns on the radio or TV, looks at their phone as they head to the office and checks the site once they arrive,” Krim said. “We’ve got so much content, it’s now possible to highlight some areas that haven’t received as much attention.”

Bloomberg wants to raise the profile on some of its lifestyle coverage and political news as well. “There’s a lot of news that we gather and it’s not all directly tied to the market,” Krim said, mentioning the company’s Washington, DC, bureau that’s been operating under former WSJ editor Al Hunt for over five years. This kind of feature content will appear on the lower half of the screen.

Later this week, Bloomberg.com will also begin highlighting stories from Bloomberg BusinessWeek, which is unveiling its revamped print and digital version on Wednesday. Krim said he’s not worried about the Bloomberg.com site undercutting the BW site since both serve different purposes. Bloomberg.com is meant to be more general with a wider focus on breaking news from across the spectrum, while BW’s site will serve as an online version of the magazine.

The fact that Bloomberg.com doesn’t have a legacy print publication to support is the key aspect in figuring out the still-to-be-decided paywall strategy, Krim said. “We’ve been talking about some experiments around online subscriptions,” he said. “We want to do it differently from others on the web. We want it to be reliable, straightforward experience and not feel like we

6 Responses to “Bloomberg’s Krim: Our Paywall Won’t Be Like Everyone Else’s”

  1. Audra Beauderlay

    @ED Dunn– Point taken but Bloomberg database( terminal) completely different offering then Bloomberg website. I get the OP’s gist and I understand where you are coming from. My guess is you have never worked with the BB terminal is that correct? The website is truly a different animal than the terminal offering. The ‘existing base’ does get this information over the web. The traditional ‘closed termianal’ system is really a dinosaur. The best comparison is the difference between a Ford Lumina NASCAR and a Ford Lumina for ‘everyone else’ — two different things. Sure there is some overlap but in the true sense not really. Makes sense??

  2. Ayan Bhattacharya

    I find Bloomberg.com’s new redesign to be very similar to that of Reuters.com and CNN.com. Personally, I find this new trend of simplifying the content into silos and supplementing it with key pictures a bit generic. The idea of reading New York Times online and seeing the structure resemble the Print publication is appealing to me. I feel the new approach is more connected to increasing brand awareness by driving users to the central page of the news portal.

  3. T Jakopous,

    Porsche didn’t make a 4-door sedan for everyone else. Lamborghini and Rolls Royce did not make a smaller version of their flagship vehicles for everyone else. They kept their core features rolling out their vehicles. Not even the c-class is for everyone else.

    It would have made sense for Bloomberg to roll out a content model that is geared to their existing base, not for everyone else, in my opinion.

  4. T Jakopous

    Don’t confuse the 2. The website is one thing , a Bloomberg terminal another. A terminal runs $1500 or so a month per person. These are for the financial community and they are ubiquitous across trading floors all over the world. I rarely go to the website and most my colleagues and peers can say the same. IMHO this redesign is for ‘everyone else ‘.

  5. I thought Bloomberg was designed to provide market-related headlines for traders? This is why Bloomberg used to have a dark background for those CRT terminals correct?

    So why is Bloomberg moving away from what I see as a lucrative market into some mainstream lifestyle stuff that is already crowded with commodity content?

    I don’t know, but if it was me, I would use the original Bloomberg model and have more stronger depth into providing market-related information feed for traders and competed with WSJ for subscriptions.