August 9, 2016
@Justin_B_Smith sent the following memo to Bloomberg Media’s management team today:
To: Media Management Team
From: Justin B. Smith
Subject: July Media Revenue
We just closed the books for July, and I wanted to quickly share that Bloomberg Media’s revenue is continuing to grow at an exciting pace.
Total global revenue in the first seven months of this year has grown +10% year-to-date compared to the same period in 2015. Global advertising revenue year-to-date through July is up +10%. U.S. advertising sales in July grew a remarkable 32% vs. July 2015, fueled by our focus on global, ideas-based marketing programs and unique multi-platform approach.
All platforms (with the exception of print) and every region are driving growth. Through July, digital advertising revenue is up +16%, TV is up +12%, Radio is up +27% and Event revenue has expanded by triple digits.
Licensing and distribution revenue is up +13% through July due to new TV distribution arrangements, branded partnerships and continued innovation in content licensing around the world.
Our July YTD numbers are closer to the growth rates at the highest performing digital disruptors than the results we are seeing from big media. You should be very proud.
Thanks to all and congrats on this success! And please feel free to pass on this good news to your teams.