Thomson Reuters company was created when Thomson Corporation merged with Reuters Group Plc in April 2008. The company headquarters is in Toronto, Ontario, Canada. Its largest revenue generator in 2018 was its Financial Risk division, with over half of that year’s revenue. It competes with Bloomberg L.P in the delivery of news to paid subscribers. The company made over 200 acquisitions in a decade (between 2008 and 2018), and it has sponsored the AT&T Williams Formula One team. The company also sponsored Canadian Golf champion, Mike Weir.
This article looks at the direct and indirect competitors of Reuters in the financial and investment markets media.
#1 Bloomberg
- Founded: October 1, 1981
- Headquarters: Bloomberg Tower, New York City, New York, USA
Need to know
Bloomberg was founded by Michael Bloomberg, Thomas Secunda, Duncan MacMillan, and Charles Zegar on October 1, 1981. It is a giant in the finance industry (media and software) that provides financial tools, B2B applications like data services, analytics and trading platforms.
Bloomberg L.P, its highest revenue-generating division, is made up of websites, radio stations like Bloomberg Radio, Bloomberg News (a wire service), Bloomberg Television (a worldwide network), magazines (Bloomberg Markets and Bloomberg Businessweek, and its subscription-only newsletter. Bloomberg Terminal is a platform that serves over two hundred and fifty thousand (250,000) customers. It integrates tools like price data, economic information, financial market analysis, and news.
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#2 Dow Jones
- Founded: November 1882
- Headquarters: New York City, New York, USA
Need to know
Dow Jones, a subsidiary of News Corporation, was founded by Charles Dow, Edward Jones, Charles Bergstresser in November 1888 at Wall Street, New York City, New York, the US. It is another leader in financial information. It has an impressive portfolio of financial media houses like Barron’s and Wall Street Journal – Wall Street Journal newspaper has hit a daily circulation of more than 2.8 million copies. Other financial need outlets include WSJ Magazine, SmartMoney magazine, MarketWatch, and Factiva (a research service). It published a millennial-focused personal finance and lifestyle website called Moneyish in 2017 – Now a section on the MarketWatch website.
In the United States of America, it provides financial market newsworthy content to CNBC, it reports real-time financial news to over six hundred thousand (600,000) Dow Jones Newswire subscribers (traders, brokers, world leaders, finance officials and executives, analysts, and fund managers). The Newswire is a direct competitor to Thomson Reuters and Bloomberg LP. Dow Jones is also into the broadcast as it created two shows for commercial radios.
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#3 Pearson
- Founded: 1844
- Headquarters: London, England, UK
Need to know
Pearson (PSO) was founded by Sam Pearson originally as a construction company in the 1840s. It is now a leader in the global media market, operated through three business groups: Pearson Education, FT Group, and Penguin Group. Pearson Education, the world leader in publishing educational textbooks and other academic research materials. FT Group, the company’s financial aspect, provides financial information and business news to a global audience through publications like the Financial Times and The Economist. Pearson’s other publishing division, Penguin Group – another of Pearson’s publishing subsidiaries- publishes over 4,000 fiction, nonfiction, and reference titles every year through imprints; Putnam, Viking, and Puffin.
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#4 LexisNexis
- Founded: 1970
- Headquarters: Helmsley Building, New York City, New York, USA
Need to know
LexisNexis was founded in 1970. It is headquartered in the Helmsley Building, New York City, New York, the United States of America. The company offers its services via two subscription-only websites. The information subscribers have access to include a library of briefs and motions from the United States and other countries like the United Kingdom, France, Hong Kong, Australia, South Africa, and Canada. Case judgements, statutes, legal journal articles, law review databases, are available to subscribers on these websites. These documents are exclusive to individuals and companies in the global business community.
LexisNexis publishes hard and online copies of magazines, books, and journals – Lawyers Weekly, La Semaine Juridique, and Taxation Magazines – in Australia, France, and the United Kingdom.
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#5 S&P Global Market Intelligence
- Founded: 1917
- Headquarters: Manhattan, New York City, New York, USA
Need to know
S&P Global was founded by James H. McGraw and John A. Hill in1917, its headquarters is in Manhattan, New York City, New York, the United States of America.
The S&P Global Market Intelligence App gives information – usually a detailed one – about the financial situation of companies. This information is used to predict and understand businesses – big or small – their economic growth and development. It also provides multi-asset class, real-time data, research, news and analytics to institutional investors, investment banks, commercial banks, insurance companies, corporations, universities, investment advisors, and wealth managers.
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#6 Morningstar, Inc.
- Founded: 16 May 1984
- Headquarters: Chicago, Illinois, USA
Need to know
Morningstar, Inc. was founded by Joseph D. Mansueto on May 16, 1984. The company is involved in investment research, compiles and analyses funds, stock, and other general market data. The company offers these services through a range of products
- Morningstar Direct – a software that helps portfolio managers create new portfolios based on the data and analytics it provides to investment managers.
- Morningstar Investment Management – it has over $244bn in assets that it manages
- Morningstar Credit Ratings for CLOs, CMBS, and other structured financial products as well as corporate and financial institutions.
- Workplace solutions, Pitchbook Data, Morningstar Enterprise Components, Morningstar Research, Morningstar Credit Ratings and Morningstar Indexes.
Financial advisers, institutional clients, individual investors use these researches to make their trading and investment decisions.
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#6 Refinitiv
- Founded: 2018
- Headquarters: London, England, UK
Need to know
Refinitiv is owned by the London Stock Exchange, which it acquired from previous owners, Blackstone Group LP and Thomson Reuters. Refinitiv operates over 130 financial technology data, trading, analytics, and risk assessment tools like World-Check – a risk intelligence database for financial crime legislation compliance -, REDI, Quantitative Analytics, AutoAudit, and Elektron Data Platform. The company also has a database that includes mergers and acquisitions numbering the last 40 years and more into millions. It also supplies Reuters owned by Thomson Reuters – its former minority stakeholder – news and other types of content to customers numbering over 400,000. Currently, over thirteen thousand (13,000) developers worldwide provide support for the platform.
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#7 CNBC
- Founded: April 17, 1989
- Headquarters: Englewood Cliffs, New Jersey, USA
Need to know
CNBC, a member of NBCUniversal News Group was launched in 1989. It provides business and financial market news from both US and the international markets on daily coverage. It uses multiple channels to offer this service; satellite TV Stations around the world, websites and mobile apps, audio via smart speakers (Amazon Echo, Google Home), podcasts (American Greed, Mad Money, Strange Success with Jane), and physical stores (CBNC Express, CNBC News, and CNBC Smartshop) in partnership with Paradies Lagardère.
The network is not new to heavy criticism, and the Obama Administration once criticised the network. The administration accused the network of picking a particular topic and discussing it from a one-sided place for a long time; they called it Cable Chatter. Barron’s also criticised Jim Cramer’s – host of Mad Money – stock picks which were outperformed by the S&P 500 growth. Jon Stewart of The Daily Show also criticised Jim Cramer’s stock picks.