Kevin JohnsonBloomberg is an international news agency based in New York City. Michael Bloomberg and Matthew Winkler founded the company in 1990 to deliver financial news to Bloomberg Terminal subscribers. In 1994, Bloomberg introduced a 24-hour financial news service. The agency launched a website to offer an audio feed of its radio broadcasts.
In 2009, Bloomberg acquired Businessweek from McGraw-Hill. This acquisition expanded Bloomberg’s focus beyond terminal subscribers to the business audience. In July 2023, Bloomberg won two awards at Waters Rankings for best market data and sell-side order management system (OMS) provider. [1]
Bloomberg disseminates content through Bloomberg Terminals, Bloomberg Businessweek, Bloomberg Television, Bloomberg Radio, Bloomberg Markets, Bloomberg.com, and mobile platforms. Its B-PIPE market data feed delivers consolidated real-time streaming prices. This solution serves several front-office use cases, including execution, pricing, risk, and portfolio accounting.
In June 2023, Bloomberg won best overall market data provider for its B-PIPE at the TradingTech Insight Awards. Bloomberg is a world leader in business and financial info. However, the company faces stiff competition from Refinitiv, AlphaSense, S&P Global, FOX Business, YCharts, CNBC, PitchBook, and Dow Jones. [2]
Here is an in-depth analysis of Bloomberg’s top competitors and alternatives:
1. Refinitiv
Year founded: 2018
Headquarter: New York City, New York
Refinitiv is a global financial market data and infrastructure provider. Financial professionals can use Refinitiv Eikon to monitor and analyze financial information. In 2021, the London Stock Exchange acquired Refinitiv for $27 billion from Thomson Reuters and Blackstone. The company serves over 40,000 clients and 400,000 end users in 190 countries.
Refinitiv Eikon provides real-time market data, news, analytics, trading, and messaging tools. It focuses on foreign exchange, money markets, fixed income, equities, commodities, funds, and real estate. In August 2023, Refinitiv announced plans to replace Eikon with its newer Workspace system. The firm will migrate Eikon users to Workspace in 2024. Refinitiv is the top alternative to Bloomberg Terminal. [3]
2. AlphaSense
Year founded: 2011
Headquarter: New York City, New York
AlphaSense is a world-leading market intelligence and search platform. Its AI-based technology delivers public and private content insights to help professionals make informed decisions. In April 2023, AlphaSense raised $100 million from Alphabet. The company employs over 1,000 people across the US, UK, Germany, Finland, Singapore, and India.
AlphaSense gathers insights from different sources, including company filings, expert call transcripts, news, trade journals, and equity research, providing them to over 4,000 enterprise customers. In July 2023, AlphaSense raised $150 million at a $2.5 billion valuation. The firm will use the funds to exploit growth opportunities. AlphaSense is one of the top competitors for Bloomberg. [4]
3. S&P Global Inc.
Year founded: 1860
Headquarter: New York City, New York
S&P Global is an American corporation specializing in financial information and analytics. The S&P Capital IQ Pro platform combines data with sector-specific metrics and analytics. In 2022, S&P Global merged with IHS Markit.
S&P Capital IQ Pro competes against Bloomberg Terminal in the financial research sector. In June 2023, S&P Global launched loan pricing, analytics, and liquidity measures on its S&P Capital IQ Pro platform. The enhancements include integration with RatingsDirect and visualization, content, and capabilities improvements. S&P Global is one of the best alternatives to Bloomberg for financial research. [5]
4. FOX Business Network
Year founded: 2007
Headquarter: New York City, New York
FOX Business is an American conservative business news channel and website owned by FOX News Media. The network features trading day coverage and opinion-based talk shows. As of June 2023, FOX Business is available in nearly 80 million homes across the US.
FOX Business delivers real-time information across multiple platforms. It is the top business channel on television. In Q2 2023, FOX Business was the highest-rated business network ahead of CNBC.
According to Nielsen Media Research, FOX Business attracted 193,000 viewers between 9:30 AM and 5 PM Eastern Time. FOX Business Network is the top competitor for Bloomberg Television. [6]
5. YCharts
Year founded: 2009
Headquarter: Chicago, Illinois
YCharts is an investment research platform. It helps wealth management professionals make better investments and improve communications with clients. According to G2, YCharts has a 4.5-star rating versus 4.4 stars for Bloomberg Terminal.
YCharts offers data, visualization tools, and advanced analytics for equity, mutual fund, ETF research, portfolio construction, idea generation, and market monitoring. In May 2023, YCharts enhanced its integration with Orion Advisor Tech. Wealth professionals can now organize accounts within YCharts by type, risk, or purpose and run reports across different groups. YCharts is a worthy alternative to Bloomberg Terminal. [7]
6. CNBC
Year founded: 1989
Headquarter: Englewood Cliffs, New Jersey
CNBC is an American cable business news channel and website. It operates globally through subsidiaries and affiliates, including CNBC World, CNBC Europe, CNBC Asia, Class CNBC in Italy, Nikkei CNBC in Japan, CNBC Indonesia, CNBC Arabia, and CNBC Bajar in India. In 2022, CNBC was one of the top three business news channels, along with FOX Business and Bloomberg Television.
CNBC provides business news programming, and also broadcasts talk shows, investigative reports, documentaries, infomercials, reality shows, and other programs. In April 2023, CNBC was ranked second after FOX Business Network in business day viewers. According to Nielsen Media Research, CNBC had 175,000 viewers between 9:30 AM and 5 PM. CNBC is one of the best alternatives to Bloomberg Television. [8]
7. PitchBook
Year founded: 2006
Headquarter: Seattle, Washington
PitchBook is a financial data and software company owned by Morningstar, Inc. It provides private and public equity market data to help investment professionals discover and execute opportunities. As of August 2023, PitchBook had around 2,000 employees and served over 100,000 customers.
PitchBook provides an all-in-one research and analysis tool for investment professionals. The platform collects and analyzes venture capital, private equity, and M&A data. In Aug 2023, PitchBook was recognized as one of Washington’s Best Workplaces by PSBJ. PitchBook is a worthy alternative to Bloomberg for financial research. [9]
8. Dow Jones
Year founded: 1882
Headquarter: New York City, New York
Dow Jones is a global news and business information provider. The company provides content to consumers and organizations in a variety of formats, including digital, print, mobile, and live events. In 2022, Dow Jones had around 12,000 employees.
Dow Jones operates leading publications, including the Wall Street Journal, MarketWatch, Barron’s, Mansion Global, Financial News, and Investor’s Business Daily. The company also offers Factiva, risk and compliance, newswires, and market analytics.
In Jan 2023, Dow Jones unveiled a reimagined product experience for Factiva users. The service provides business intelligence and content from 200 countries in 32 languages. Dow Jones is a worthy competitor for Bloomberg. [10]
9. FactSet Research Systems, Inc.
Year founded: 1978
Headquarter: Norwalk, Connecticut
FactSet is a financial data and software company. Its digital platform and enterprise solutions provide financial data, analytics, and open technology. As of May 2023, FactSet had 12,072 employees and 7,770 clients.
FactSet provides integrated data and software. It serves clients across the buy-side and sell-side, wealth managers, private equity firms, and corporations. In Q3 2023, FactSet’s user count increased by 1,382 to 187,845. The company was also recognized in Glassdoor’s Best Places to Work in 2023 as an employee’s choice award winner. FactSet is a worthy alternative to Bloomberg Terminal. [11]
10. CNN
Year founded: 1980
Headquarter: Atlanta, Georgia
CNN is a multinational media house with 36 bureaus and over 900 affiliates globally. The channel offers CNN Money and CNN Business, which cover financial news like Bloomberg News. In 2023, CNN employed over 4,000 people.
CNN is renowned for investigative journalism and breaking stories. A scandal led to the ouster of CNN CEO Chris Licht. The agency reverted to its style of journalism practiced under former network chief Jeff Zucker.
In June 2023, CNN topped the cable news prime time ratings race for the advertiser-coveted 25-54 demographic. CNN is one of the best alternatives to Bloomberg Television and Bloomberg.com. [12]
11. Morningstar, Inc.
Year founded: 1984
Headquarter: Chicago, Illinois
Morningstar is an American financial services firm. Its Morningstar Direct solution competes against Bloomberg Terminal. In 2022, Morningstar had around 10,000 employees.
Morningstar serves investors, financial advisors, asset managers and owners, and retirement plan providers. It is a leading provider of investment insights in North America, Europe, Australia, and Asia. In 2022, the company reduced its operations in China to focus on its global business. Morningstar is one of the top competitors for Bloomberg. [13]
12. Reuters
Year founded: 1851
Headquarter: London, United Kingdom
Reuters is a world-renowned international news agency owned by Thomson Corporation. It provides data and financial news to investors and traders. In 2022, Thomson Reuters had around 25,000 employees stationed in 200 locations globally. [14]
Reuters is the go-to source for breaking news. It was one of the first agencies to transmit financial data over oceans through computers and use computer-terminal displays of FOREX rates.
In July 2023, Reuters acquired Imagen Limited to expand its media asset management capabilities. The company also agreed to purchase Casetext for $650 million in June 2023. Reuters News is a formidable competitor for Bloomberg. [15]
13. Forbes
Year founded: 1917
Headquarter: Jersey City, New Jersey
Forbes is an American business magazine owned by Integrated Whale Media (IWM). It is published eight times yearly and covers finance, industry, investing, marketing, technology, communications, politics, and law. As of May 2023, Forbes reached over 140 million people in 82 countries.
Forbes is best known for its lists and rankings, including Forbes 400 richest Americans, Forbes 30 under 30, America’s Wealthiest Celebrities, and Forbes Global 2000 World’s Top Companies. In May 2023, Austin Russell, the founder and CEO of Luminar, agreed to acquire an 82% stake in Forbes Global Media Holdings from IWM. The deal values the company at nearly $800 million. Forbes is the top competitor for Bloomberg Businessweek. [16]
14. Yahoo Finance
Year founded: 1997
Headquarter: New York, New York
Yahoo Finance is an online media service offered by Yahoo! Inc. It provides data, financial news, and commentary, including stock quotes, press releases, and financial reports. In Feb 2023, Yahoo laid off about 20% of its workforce. The cuts included over 1,600 of Yahoo’s ad tech employees. [17]
Yahoo is ranked in the top five companies worldwide in traffic. The network has 500 million US members and reaches over 900 million people globally. In 2021, Apollo acquired Yahoo for $5 billion from Verizon. Yahoo’s CEO Jim Lanzone plans to take the company public and return it to its former glory. Yahoo is one of the top competitors for Bloomberg. [18]
15. Sentieo Inc.
Year founded: 2012
Headquarter: San Francisco, California
Sentieo is an equity research platform owned by AlphaSense. It offers public document search, research management, team collaboration, equity data dashboards, visualization tools, and mobile apps. According to G2, Sentieo has a 4.5-star rating from 39 customer reviews. The platform serves over 1,000 customers, including 800 institutional investment firms and Fortune 500 companies.
Sentieo provides a financial intelligence platform for investors. Its AI-powered search engine aggregates internal and external content into a shared workspace. In May 2022, Sentieo partnered with GLG to expand its data and content library. Sentieo is one of the best alternatives to Bloomberg Terminal for financial research. [19]
References & more information
Bloomberg for financial research.
Tell us what you think? Did you find this article interesting? Share your thoughts and experiences in the comments section below.
Ava Abbott
Add comment