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Posts Tagged ‘Michael Dukmejian’

Bloomberg Launches New Magazine

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.

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Bloomberg Markets Looks to Expand Influence

Unless you’re rich and subscribe to Bloomberg Terminals, you probably don’t pay much attention to Bloomberg Markets. However, a cover story planned for October about the 50 most influential people in business might change that. That’s the plan, at least.

According to Adweek, Bloomberg Markets Publisher Michael Dukmejian is taking aim at magazines like Forbes and Time beginning with the October issue:

‘We’re a magazine that a lot of people in the media-buying community haven’t paid a lot of notice to,’ Dukmejian says. ‘Now, we’re trying to position ourselves as a broader, consumer-based magazine.’

That shift first appeared back in April when the magazine hired its first creative director, snatching up Siung Tjia from ESPN The Magazine.

This is just the latest move from Michael Bloomberg to expand his influence in the world once he departs office. The most obvious was the launching of Bloomberg View, but by pitting Bloomberg Markets against more mainstream publications, Bloomberg is reaching out even more.

Time will tell if that long reach also possesses any grip.