Bloomberg Overcomes Its Own Irrelevance
April 9, 2014
It’s easy to overlook the dinosaurs of another era, but just as Jurassic Park taught us, old things can still be fierce. Case in point came from a recent Matt Turck article, “Can the Bloomberg Terminal be Toppled?” http://mattturck.com/2014/03/19/can-the-bloomberg-terminal-be-toppled/ The answer isn’t as simple as you might imagine.
The article starts off by mentioning the obvious uphill battle Bloomberg (www.bloomberg.com ) is fighting:
“[A]t a time of accelerating “unbundling” across many industries, including financial services, the Bloomberg terminal is the ultimate “bundling” play: one product, one price, which means that that the average user uses only a small percentage of the terminal’s 30,000+ functions. Yet, 320,000 people around the world pay about $20,000 a year to use it.”
But Turck, a former employee, goes on to extoll the true benefits of such an old fashioned model. He leaves us convinced, frankly. Changing formats isn’t as easy as every startup would have us believe. Bloomberg has the track record, which speaks volumes in this world. Just ask production giant, Unilever, who just launched a Bloomberg terminal specifically for marketers http://www.campaignasia.com/Article/373285,Unilever+activates+Bloomberg+Terminal+for+marketers+live+at+Mobile+World+Congress.aspx. That doesn’t strike us as the image of a sinking ship. Rather, it strikes us as the image of a ship that has been sailing so long and well that we doubt it will ever run aground. Good for them, we say.
Patrick Roland, April 09, 2014