Bloomberg Media is dropping TicToc as the name of its two-year-old social-media news service, rebranding it as “QuickTake by Bloomberg.” The move comes as the media company preps the launch of an over-the-top streaming news channel in 2020, with the new QuickTake group merging its TicToc and longer-form digital video teams for a total staff of 80 dedicated to internet video.
With branded content hard to do profitably, publishers including Bloomberg Media are trying to offer strategic services designed to get clients on retainer or act as an agency of record for brands.
Bloomberg Media made a case to advertisers Monday that it could target consumers of various generations across distribution platforms at its first Digital Content NewFronts presentation. Part of the 34-year-old media company’s pitch revolved around a message that suggested we’re all acting like smartphone-toting, swipe-happy millennials now — even business news aficionados.
Bloomberg Media’s digital video investments are beginning to pay off. Half a year has elapsed since Bloomberg Media CEO Justin Smith called digital video “a golden asset,” promising “large bets” on video content and distribution as part of “a new direction” for Bloomberg’s media business. Since then, video has increasingly taken center stage on Bloomberg’s digital properties — and viewership has spiked.