Thursday, June 26, 2008

ThomsonReuters vs. Bloomberg

You might want to read an article that appeared in Monday's New York Times about the competition between ThomsonReuters and Bloomberg in the financial news industry. Although Thomson Reuters reports more revenue, $12.5 billion to Bloomberg's $5.4 billion, and more employees, 50,000 to Bloomberg's 10,000, they are close competitors measured by market share: ThomsonReuters has 34% and Bloomberg has 33% of the market for financial data.

The article does a nice job covering the history of the two companies and assessing possible strategies for the future.

See "The New Fight for Financial News" in the New York Times, June 23, 2008.

1 comment:

Jean Yaremchuk said...

To clarify: the number of employees and revenue given for Thomson Reuters includes all of its divisions. Only the Markets division competes directly with Bloomberg. Markets employed 27,420 staff at last count and had revenue of $7.4 billion for the last fiscal year. Revenue for the Professional divisions of Thomson Reuters broke out as follows: Legal $3.3b; Tax & Accounting $.7b; Scientific $.65b; and Healthcare $.45 b.