Users of the Bloomberg Terminal may qualify as some of the richest worldwide, but Bloomberg has decided to launch a new luxury lifestyle magazine targeting this demographic at no cost anyway. The first edition of Bloomberg Pursuits will release next month, available to the 310,000 subscribers of the Bloomberg Professional service, who put out around $20,000 each year to receive the Terminal computer service, reported WWD.
Bloomberg Pursuits was hatched out of Bloomberg Markets, a monthly business magazine also distributed to Terminal users. Each magazine boasts a circulation of 375,000.
“You can’t get our audience anywhere else,” said David Bowling, advertising director at Bloomberg Pursuits, which will offer a fabulous deal to advertisers seeking to reach this wealthy demographic.
Readers have a highly global spread, with approximately 60 percent of the distribution occurring overseas, especially in key financial markets such as the U.K., Japan, Hong Kong and Germany. The average household income of the new magazine’s users is $452,000, and 90 percent of readers are men.
The first issue boasts 46 pages of content and 30 pages of advertising, exhibiting labels such as Hermès, Chanel, Zegna, Rolls-Royce and NetJets. The following issue will be released during the fourth quarter, and the magazine will be published quarterly starting in 2013. It will face some serious competition for ad money from other business-geared titles, such as WSJ, Departures, ForbesLife, Robb Report and the Financial Times’ How to Spend It.
Bloomberg Pursuits hopes to stand out from the crowd by highlighting its own readership and experimenting with its passions. The debut issue will feature profiles of subscribers, such as a reader who journeys to Antarctica to see a solar eclipse, one who constructs his own racing yacht and one who collects Ferraris in order to take them apart and rebuild them.
“Our readers don’t just own and appreciate luxury. They have a command and mastery of their toys,” Vince Bielski, editor of Bloomberg Pursuits, noted.
Fashion pages will highlight Terminal users, including as Manhattan’s Jean-Francois Collard, head of quantitative research at Pulse Capital Partners, who will be displayed showcasing suits in the first issue.
