NEW YORK, Dec. 3, 2019 /PRNewswire/ -- Bloomberg Media announced today that it is rebranding TicToc, its social video news network, to QuickTake by Bloomberg. This is a key step for the brand as it evolves into a premium global news network that seamlessly connects the world of social and streaming. In preparation for the launch of a streaming news channel in 2020, QuickTake by Bloomberg will merge with Bloomberg's existing digital video operations, adding a full team of producers and editors to its newsroom to become one editorial studio.
"With a combined editorial video studio and greater resources, QuickTake by Bloomberg will continue to innovate the way news is delivered to cover the modern social news cycle at the pace of global news today," said Justin B. Smith, CEO of Bloomberg Media. "Streaming video is a key priority for Bloomberg Media's growth strategy as we see bright opportunity in the OTT space, especially in the world of news."
Since launching with Twitter in 2017, TicToc has expanded onto various social platforms and screens, reaching over 90 million monthly views across platforms and gaining an audience that is truly global, with 46 percent being international viewers. It has seen tremendous growth, with 79 percent increase in audience size in the last year, with a primarily younger demographic.
By combining TicToc's shorter, one-to two-minute immediate reactions to news and global stories with Bloomberg's digital video operations – which currently produces five-to ten-minute, longer-form narratives – the new QuickTake by Bloomberg will significantly increase its robust video offering. From reporting in real-time as news breaks to providing greater context on larger issues and trends at play, QuickTake presents insight at every stage of a story, while delivering the right video on the right platform at each point in the news cycle.
The rebrand is a strategic evolution of the existing Bloomberg QuickTake brand, known for explaining timely topics to Bloomberg's business and financial audience primarily on the Bloomberg Terminal. This next iteration of QuickTake by Bloomberg will continue to build on TicToc's success in delivering social-first video on the biggest breaking news, ideas and issues across tech, business and culture for a younger generation of news consumers.
"We think TicToc fits well with Bloomberg QuickTake. Both brands deliver smart, concise context to explain the news," said John Micklethwait, Bloomberg Editor-in-Chief. "We also think our newly aligned QuickTake digital video studio will be a powerful asset in a world where the number of platforms for high-quality video is multiplying."
Bloomberg Media, the consumer-facing media organization of Bloomberg LP, is the leading global business and financial media company reaching a premium audience of more than 80 million consumers. With over 2,700 journalists and analysts across 120 countries, Bloomberg Media Group connects influential audiences to news, ideas and intelligence across every platform: digital, TV, radio, print and live events.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg's enterprise solutions build on the company's core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.
SOURCE Bloomberg Media