Dive Brief:
- Bloomberg hired Steven Feuling to head a new marketing services group that will help advertisers create strategies and content across Bloomberg media according to reporting by The Wall Street Journal.
- Feuling was most recently CEO of Vizeum, a media agency.
- His title will be global head of marketing services for Bloomberg Media and Feuling will work with Kinection, Bloomberg’s content group that launched this May.
Dive Insight:
As digital content consumption grows, publishers like Bloomberg have deep insights on their readers that can help advertisers better target their campaigns. Some of this work is supplanting the work that agencies have traditionally done and some is complementary.
According to the Journal, the move from Bloomberg is an effort to expand its revenue by tapping into its total media offering beyond its core Bloomberg terminal business. Bloomberg Media includes a TV network, radio stations, a magazine and digital properites.
“We can package together a suite of services that either solely supports a client as a marketing services division, or bolt on to an agency and help them prove the capability,” Jacki Kelley, chief operating officer for Bloomberg Media, told the Journal. She added that the B2B group is an opportunity to meet a market need.
Kelley explained that the new group will be focused more on intelligence and data rather than more automated marketing tasks.
“We have a solid programmatic stack and could definitely expand that for partners, but our intent is not to take on the low-margin aspects of the agency business in any way," she said.