Arguing that all the current desktop data and news offerings available to financial companies are inadequate, Thomson Reuters (NYSE: TRI) is revamping its market info service. Among other things, the Thomson Reuters Eikon is looking to apply social media and mobility to the mix of market information, news, analytics and trading tools as part of its financial markets data subscription business. The overhaul follows the introduction of a video on demand option for its subscribers called Reuters Insider. To herald the changes, the company is embarking on a major ad campaign, something Thomson Reuters has never really done since the merger two years ago.
With the improvements in search and other online features reducing the unique quality of the real-time information business of Thomson Reuters and rival Bloomberg, the Eikon — pronounced “icon” — system seeks to combine the best of both worlds. Although a Google (NSDQ: GOOG) or Twitter search is still miles away from what real-time data systems can provide, Thomson Reuters believes that users will appreciate the additions such as web-style search and social networking, as well as Blackberry and iPhone mobile access. While the company has been trying to broaden its offerings to include a more general business audience, it’s the subscription business that still pays most of the bills.
The company didn’t say how much it’s spending on the marketing campaign for Eikon, but the ads will run in business centers globally. The ads are centered on the idea of financial professionals being analogous to athletes who have to take “split-second, decisive action,” a rep said. In addition to wrapping itself in a sports setting, the company has also set up a site that introduces Eikon, here.