Bloomberg Markets, a monthly title sent to Bloomberg Terminal subscribers, is getting a spinoff. According to Adweek, Bloomberg Pursuits will launch in March and if it’s successful, will then publish twice a year or quarterly. Just what is Pursuits about? Rich people doing things that rich people do.
Ron Henkoff, the Editor-in-Chief of Markets, explains, “We tend to write about people who make a lot of money and spend a lot of money. But they are also into other things. They have very active lifestyles.”
To increase its chances of being successful, Pursuits will be targeting Terminal subscribers who don’t read other titles:
According to Ipsos Mendelsohn, 95 percent of Markets’ readers don’t read Robb Report, 88 percent don’t read the Financial Times, and 73 percent don’t read The Economist. ‘It’s a market that’s pretty exclusive to us,’ says Michael Dukmejian, publisher of Bloomberg Markets.
The magazine might also work because it’s banking on the exclusivity factor. People who have so much money that they consider buying an island for their cat seem likely to enjoy reading about others who would do the same thing.