The term “pivot to video” has become a shorthand for the ill-fated strategic shifts undertaken by digital media companies such as Buzzfeed and Mic in the middle of the past decade to capitalize on Facebook’s prioritization of videos. Fast forward to 2023, and there’s a new pivot happening—this time with audio.
The latest is Bloomberg, the privately owned news and data company that operates radio and web-streaming shows such as “Bloomberg Markets” and “Bloomberg Daybreak.” In an internal memo earlier this month, Bloomberg’s Global Head of Audio Anthony Mancini told staff that over the next few months, Bloomberg Radio plans “to increase live video streams of its radio and podcasts on YouTube,” according to a copy of the memo seen by The Information. The memo was sent out after Bloomberg decided to cut “Baystate Business,” its Boston radio program, and detailed new priorities going forward. Audio offerings for Bloomberg are currently on Bloomberg terminals, its app and livestream on Bloomberg.com.