Get a demo of a Bloomberg terminal. You’ll be is blown away by the depth of available data. Thousands of statistics, historical tables, sources… Everything is available through the proprietary terminal. Bloomberg started by offering a real-time news flow dedicated to the needs of the financial community, traders, analysts, etc. Over the years, the system expanded in two directions. First, remarkable journalistic work grew Bloomberg from a unidimensional newswire into a multi-product company providing breaking news, features stories, in-depth reporting, TV feed, radio, podcasts, even a magazine. The service is encapsulated in a terminal rented for a fixed price (€1800 a month), no discount, no complex pricing structure, just one product, that’s it. (This choice of integrating content into a piece of hardware reminds me of a famous Cupertino-based fruit company). Bundled with the product, you get raw data, lots of it. That’s the other Bloomberg’s gem. The ability to tap into big databases is an essential journalistic tool. It undoubtedly helped Bloomberg to reach its status in the financial information sector. More
Would it makes sense for Google to buy AP? Yes, says a contributor to Wired.Com. AP is a non-profit cooperative with 1500 members, many of them on the verge of extinction. (See the latest’s figures form the New York Times which is bleeding ad revenue at a yearly rate of 13%), or the terrible situation of Tribune Co.
Google, by comparison is in excellent health and needs content. In August 2006, it agreed to pay for AP stories appearing on Google News (except for Agence France Presse, everyone else is giving abstracts for free). Starting from this, buying such a news gathering capability would make sense. At least it is much cheaper and way more tangible than any social network.