Why Did Michael Bloomberg Start Bloomberg Radio and Television?

David Senra, reading Bloomberg by Bloomberg, says Michael Bloomberg started radio and television to sell more Bloomberg subscriptions, the product the whole business runs on.

Bloomberg already had the information and the technical know-how, so broadcasting was an easy extension of work done elsewhere. Radio and television give the company instant visibility. The press likes nothing better than writing about itself, and more exposure leads that press to mention Bloomberg to the public. Radio and television became another way to deliver the same content. Every piece of content is an ad for the subscription. A television story relates to a magazine article that relates to the data on the terminal. Each one raises the chance of selling another subscription.

The business is the information, not the medium it arrives in. Some companies declare themselves to be in radio, or television, or newspapers. Bloomberg's job is to give customers the information they need in whatever form fits. With every method available, it does better. It creates or adopts a new medium and does not ask customers to accept less.