The Bloomberg terminal works as a platform, connecting users in the financial industry with information and data provided by 3 rd parties. The software, called Bloomberg Professional, allows users to monitor and analyze market data in real-time and trade on the electronic trading platform. The hardware includes the infamous double screens and a special keyboard with shortcut keys and a key to help navigate through the software’s many functions. The Bloomberg Terminal (pictured above) is a platform solution that consists of both hardware and software components. How has Bloomberg L.P., the long-time incumbent with a costly and arguably outdated offering, been able to hold its dominant position in the financial data market for so long? I would argue that it comes down to the Terminal’s strong network effects. There’s even a Bloomberg Terminal in the Vatican. Despite the steep cost and arguably outdated appearance, most financial firms have Bloomberg subscriptions and continue to rely (albeit begrudgingly) on the tool to conduct business. 320,000 people around the world pay roughly $20,000 annually to use the Terminal. launched the Bloomberg Terminal in 1984, it has been the go-to tool for people in the financial industry to access information, analyze data and share findings.

Bloomberg terminal cost per month