With the Digital Innovators’ Summit (DIS) quickly approaching, Bloomberg Media Distribution’s General Manager and Global Head Josh Rucci spoke with FIPP about the operations of Bloomberg’s global licensing and distribution business, and its strategies for innovation at the intersection of media and technology.
In conversation with Ashley Norris, Rucci addressed new growth opportunities in video and audio. He outlined Bloomberg’s multifaceted production of video content, from its 24-hour global television network, to original series including Brilliant Ideas, Hello World, and Big Problems, Big Thinkers. While video is Bloomberg’s fastest growing business from a distribution standpoint, it is not their largest. “We really see the future as one of integration,” Rucci said, referring to the potential of multimedia packages, including text and photo, text and graphics, and text and video. As for audio content, he emphasized the success of audio streaming on digital platforms and the increased demand for Bloomberg podcasts.
Rucci also discussed some of the key challenges Bloomberg faces in terms of selling its content to publishers. “A lot of people don’t necessarily know what Bloomberg can offer as a comprehensive solution,” he explained. “There’s a lot that Bloomberg brings to the table that is not necessarily common knowledge. And that’s our job – to better educate the market on that.”
Addressing publishers looking to sell their content more effectively, Rucci offered valuable advice regarding distribution, branding and consumption data. “Media companies also need to recognize the investment it takes to win and to make sure they staff correctly,” he suggested. “If you just want to dip your toe in the water, then there are plenty of partners out there, again be it Bloomberg or any others this space, that can provide a very fast and cost-effective way to test the market.”
Rucci is one of 60 speakers who will discuss innovations in the media industry at DIS 2017, an international media innovation event held in Berlin on March 19 – 21.
Read the full interview here.