Bloomberg has found another way to capitalize on its access to some of the wealthiest—mostly male—consumers in the world: next month, it will launch an offshoot to its Bloomberg Markets magazine. Bloomberg Pursuits will be polybagged with, and run by the team at, Bloomberg Markets, but will hone in on luxury lifestyle content that emerged from the pages of the finance-focused title.
“The stories are there to be told,” says editor Vince Bielski. “Bloomberg Markets stories would contain these fascinating bits and pieces of our readers’ lifestyles. We saw a great editorial opportunity to capture these daring, risk-taking individuals who we found bring the same intensity to their personal lives that they bring to financial markets.”
The twice-yearly title launches with a rate base of 375,000 and will be sent for free to all users of the Bloomberg Professional Service (“the terminal”). The magazine’s readership is 90 percent male, with an average household income of $452,000 and an average age of 38.
The magazine’s frequency is set to increase to quarterly in 2013. The debut March issue reportedly contains 46 edit pages and 30 ad pages with advertisers including Hermès, Chanel and Rolls-Royce.
Like Markets, Bloomberg Pursuits will have a page on Bloomberg.com, rather than its own website. It will also have a one-hour primetime special on Bloomberg Television next month.
For content, the magazine will draw from reporters across Bloomberg’s more than 150 worldwide bureaus but will publish only original reporting for Pursuits. “One of the distinguishing characteristics of this magazine is the ways we can tell stories globally,” says Bielski. “Our readers are very global, speak several languages and travel extensively, so this isn’t a New York-centric or U.S.-centric magazine at all.”
When asked why now is the time for such a launch, Bielski says, “If anything, we could have or should have started a magazine like this some time ago. But now is the time we decided we can do it.”