Giant fish tanks, a stylised forest glade, an enormous modern food pantry area and a space for art exhibitions. That’s what you get when you pay a visit to the impressive Bloomberg Headquarters in London.
In a recent session with London bureau chief Mark Gilbert, senior executive producer, Bloomberg TV Gary Kanofsky and anchor Francine Lacqua, I was blown away by the snazzy office but also learned about “the Bloomberg way” and what the team is looking for in their interviews.
I also realised that Bloomberg is a success story at a time when the media business is being hit hard. As newspaper and magazine publishers announce buyouts and layoffs, shift to online publishing or even cease magazines completely, Bloomberg is working in the opposite direction pursuing an aggressive hiring policy. In August, Mark alone held 35 job interviews with journalists.
Its expansion is partly spurred by an appetite for financial information which has never been stronger. As a result, the Bloomberg Group reaped $7bn revenues last year – a scale the majority of media companies worldwide can only dream of achieving.
What you need to know when pitching to Bloomberg:
Every day Bloomberg journalists develop around 6,000 stories and distribute 100,000 more over their terminals. The focus lies on news and numbers! Each story informs the market about the value of a company. Therefore all articles need to have a direct impact on stock markets.
Typically companies require earnings of over $250m for Bloomberg to report on them, but smaller companies can be of interest if they can tell a story that has wider significance or moves prices of larger competitors. The team is open to hearing from market / outside experts and people who have something to say that can set the news agenda for governments, policymakers and regulators.
Interviewing high profile figures from central banks, global government leaders and business tycoons means respecting embargoes is an absolute must. In fact, embargoes are greatly valued by the team as these give them time to put the story into context. There are even technologies in place that stop embargoes from being broken.
It’s also worth noting that journalists pay their own way. Bloomberg pays for everything including flights and hotels. If corporate hospitality is accepted, journalists buy their own tickets or make a charitable donation of equal value. Having said this, reporters are still encouraged to go out and meet with people.
Bloomberg TV is probably one of the most prestigious services of the group and it’s probably most attractive to the PR community. According to Gary, a common pitfall for PRs is that they pitch spokespeople who’s expertise is simply too narrow. For TV guests it is particularly important that they can engage in lively discussions on wider business news, the markets and global economies. Often guests don’t get to plug their company at all but instead offer insights and expert analysis.
If PRs have someone who fits the bill, the editorial team is always open for suggestions. There are plenty of interview slots as broadcast starts at 5:00 am. Interviews are usually live and last 5-10 minutes. However, occasionally guests are invited to stay on for half an hour.
It might be an early morning shift for your spokesperson but it’s worth it as our clients will testify. You can reach 2.4 million main income earners in Europe’s top 20% households and it can also be a great tactic for investor relations!
Useful post Peggy – i don’t envy all your early morning starts though!