Bloomberg merges TicToc with QuickTake team as focus on OTT news heightens

Bloomberg merges TicToc with QuickTake team - stepping away from TikTok shadow

Bloomberg Media has merged its social video news and digital video news operations, bringing the group under 'QuickTake by Bloomberg' brand ahead of the launch of its OTT news streaming channel 2020.

At the end of 2017, Bloomberg launched TicToc, a global news service native to the social mobile world. By way of coincidence, it was similar branding to the fast-growing social media app TikTok. But now it is refreshing the brand and merging it with Bloomberg’s existing digital video operations, adding a full team of producers and editors to its newsroom to become a single editorial studio.

Justin B Smith, chief executive of Bloomberg Media, said: "With a combined editorial video studio and greater resources, QuickTake by Bloomberg will continue to innovate the way news is delivered to cover the modern social news cycle at the pace of global news today.

“Streaming video is a key priority for Bloomberg Media’s growth strategy as we see bright opportunity in the OTT space, especially in the world of news.”

The service boasts more than 90 million monthly views and claims to have grown 79% in the last year.

From a style perspective, TicToc’s video output lasts between one and two minutes, whereas Bloomberg’s digital output lasts between five-to ten-minute, now together as QuickTake it said it will offer a "robust video offering".

Quicktake previously explained timely topics to Bloomberg’s business and financial audience. John Micklethwait, Bloomberg editor-in-chief, said: "We think TicToc fits well with Bloomberg QuickTake. Both brands deliver smart, concise context to explain the news. We also think our newly aligned QuickTake digital vi deo studio will be a powerful asset in a world where the number of platforms for high-quality video is multiplying."

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