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Bloomberg is set to launch an iPhone app for Businessweek within the next few weeks as it looks to expand its global reach.
new media age has seen a sneak preview of the new app, which mirrors the look and functionality of the Bloomberg Businessweek iPad app launched in April last year, as well as the newly revamped website, businessweek.com (pictured), unveiled earlier this week.
Oke Okaro, Bloomberg global head of digital and mobile, highlighted that while 8% of the print magazine’s readership is outside the US, 35% of the iPad audience is, and he expects the global reach on the iPhone to be even greater.
“The iPhone launch will absolutely open us up to a larger, broader audience,” said Okaro (pictured). “The iPad has already done that and the iPhone has at least a four times bigger install base. It will enable us to deliver to our audience in a much more convenient way and will also drive greater engagement among existing users because the iPad is more lean back.”
The iPad app has more than 100,000 subscribers, while the current print circulation is 980,000.
He also pointed out that the speed at which global markets can be reached through the iPad is much faster than with the print edition because Bloomberg doesn’t have to physically distribute the title to each region.
“We live in an era where we have these devices on us at all times and we have access wherever we go, which provides a myriad of new opportunities to reach people in ways that were not possible in the past,” he said.
The iPhone app will have all the content and functionality of the iPad app, but it has been packaged in a way that makes it easier to consume on a smaller device.
Following the launch, Bloomberg will look to develop an Android version.
The iPhone app subscription will be priced £20.99 per year, the same as on iPad or iPod Touch. Existing subscribers to the weekly magazine can get both the iPhone and iPad apps free of charge.
Bloomberg publishes regional editions of the print magazine in North America and since the end of last year, Europe and Asia. Content on the iPad app is the same across all regions but Okaro said it could look to deliver targeted advertising on a regional basis.
Bloomberg’s website saw a 20% rise in unique visitors year on year to 13.4m. As well as a new look, the site will feature real-time analysis that will be exclusive to the web.
The company launched four new products at the end of last year, including Bloomberg TV+ and Bloomberg Radio+, which are sponsored by Credit Suisse (nma.co.uk 17 January 2012).
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