Tarun Nagar 
“The Bloomberg Terminal is not just a tool, it’s a necessity for anyone serious about navigating the complexities of the global markets.”
– Ray Dalio.
Ever dreamed of staying on top of the market trends like a true Wall Street wolf? With so much information available these days, it’s important to have a trusted source for business news. That’s where a Bloomberg app comes in – a one-stop shop for business, financial, and economic news. But what if you could build an app like Bloomberg that stands out from others?
With a projected size of $1.20 billion in 2021 and anticipated to rise at a CAGR of 11.2% from 2022 to 2030, the news and magazines app market is expected to reach $4.55 billion. This clearly depicts that the demand for news platform app development will rise in the coming years.
Due to this, many industry leaders are planning to grab this profitable opportunity by investing in Bloomberg app development. If you are someone who wants to build an app like Bloomberg, then this blog is for you.
Read this blog to get a beautiful insight on everything like steps, essential features, development costs etc, which may assist you in building a top-notch news app like never before.
So, let’s begin.
What Is A Bloomberg App?
A Bloomberg app is a news platform that allows users access to a wealth of news, analytics, and financial information. Its primary focus on the financial markets and all the stocks, bonds, and other assets they may find there.
Source: https://www.bloomberg.com/
It has features like market data, watchlist customization, portfolio monitoring, breaking news alerts, and even access to Bloomberg’s in-house research and commentary.
With the Bloomberg business app, users can stay updated and make choices while on the move on a variety of platforms. So, if you are planning to build an app like Bloomberg, then you must consult with a mobile app development company.
Current Market Stats Of News Platform!
- The size of the worldwide market for news applications was estimated at $13660 million in 2022, and over the forecast period, the market is expected to grow at a CAGR of 17.7% to reach $59221 million by 2031.
- An estimated 12.2 billion dollars were made by Bloomberg LP, a news app development company with its headquarters in New York that provides data services, news offerings, communication, video streaming, and print media in 2022.
- The Bloomberg Finance Market News App’s premium multi platform as well content has achieved over 30 million users.
- By 2024, it is anticipated that global sales of digital newspapers and magazines would total $40.23 billion.
Source: Statista
- By 2029, the industry is about to rise at a CAGR of 2.06%, with an anticipated value of $44.54 billion.
- By 2029, there will be 2.5 billion e-readers of periodicals and newspapers worldwide.
- By 2029, it is anticipated that the user adoption rate would have increased to 30.6% from its forecasted 27.4% in 2024.
Quick Summary: Are you looking to build an app like Bloomberg? Well, if it’s true, then read this blog till the end. It involves development steps, key features, costs, benefits and so on to make an amazing app like Bllommberg.
Step-by-Step Process To Build An App Like Bloomberg
Do you want to build an app like Bloomberg? Well, creating a Bloomberg app clone is a thrilling journey that blends innovation and market data but it also requires a thorough expertise in app development. So, as per the News App Development Company, below are the steps to create an app like Bloomberg to embark on this exhilarating adventure:
- Validate App Idea & Do Market Research
- Create A Feature List
- Design User Interface
- Develop A Bloomberg App Clone
- Test & Launch
- App Maintenance
1. Validate App Idea & Do Market Research
Before you get into development, take some time to validate your app idea with the iOS or Android app development team. Perform a lot of study on the figure out what your intended audience wants.
Check out other financial news apps, think about what makes them good and bad, and look for loopholes in the market that your app could fill. Talk to people who might want to use your Bloomberg-like app to get feedback and make sure somebody wants it.
2. Create A Feature List
Now that you have a solid handle on your target market and your rivals, it’s time to develop a broad feature list for the app. You can take an example of an app like Inshort. Take a moment to look at the vital functions users expected from a financial news app like Bloomberg.
Before you build an app like Bloomberg, you can consider features that users can interact with. Put features in order of value and how well they will work with your bloomberg trading app.
3. Design User Interface
Your app’s success relies heavily on its user interface. Make a design that is simple to use and looks attractive to boost the overall user experience. Watch out for the layout, hues, visual order, and how convenient it is to determine the way in the Bloomberg news mobile app. When designing, keep it easy to navigate for users with a range of finance expertise, but yet reflecting Bloomberg’s authoritative and professional image.
4. Develop A Bloomberg App Clone
Now that you have the UI design and feature list finalized, it’s time to build an app like Bloomberg. Depending on the needs of the project and the skills of your news app development services provider, pick the correct tech stack and development approach.
Make sure the backend systems are strong enough to handle current data feeds, user identification, and other important tasks. To build a smooth user experience across many platforms and devices, the on demand app development team creates frontend by using cutting-edge frameworks.
5. Test & Launch
Before releasing your app, testing is an essential step to find and fix any flaws or obstacles. Properly test on a range of devices, browsers, and running systems to make sure they work and are compatible. You can also avail a software testing services provider who can perform rigorous testing. When you’re satisfied with the functionality and standard of your app, be ready for an app store launch that goes well.
6. App Maintenance
The journey doesn’t end when you release your app. To find areas for improvement and what’s new to offer, maintain an eye on analytics and user feedback. Keep up with technology developments and industry trends to make sure your app stays competitive in the always changing finance sector.
Key Features To Include In Bloomberg App Development
Wondering what makes an app successful? Well, its features! A Bloomberg app typically offers features tailored for financial professionals, investors, and anyone interested in staying updated with the latest news. So, when you build an app like Bloomberg, you must check out the key features commonly found in a Bloomberg app:
1. News Feed
Give full news coverage from Bloomberg’s global network, like breaking news, market insights, economic data, and events in geopolitics that affect the markets. You can take an example of an app like BBC News.
2. Bloomberg Today
Give users an easy-to-read outline of current market trends and global news gathered by Bloomberg’s team of writers. It makes sure they stay up to date on important events.
3. Instant Bloomberg
Add the well-known IB feature from the Bloomberg Terminal to the app. It helps them to have important talks and stay in touch even when they’re not at their desks.
4. Customizable Watchlists
Allow users to easily create customized watchlists for monitoring stocks, bonds, currencies, or other assets. As per the trading software development company, you can set up alerts for price changes and receive news updates that match their preferences.
5. Portfolio Tracking
When you create a mobile app like Bloomberg, you should enable users to manage their assets more successfully by giving them access to tools for tracking and evaluating investment portfolios.
6. Charts and Graphs
When you build an app like Bloomberg, allow users to work with visualizations with a variety of stock indicators and tools to assist them figure out market trends and make smart trading decisions.
7. Bloomberg TV and Radio
Allow users to access live streaming of Bloomberg Television and Radio, featuring interviews with industry experts, market commentary, and analysis. It ensures they stay informed about market developments.
8. Real-time Market Data
In stock trading app development, users should be able to see both past and actual time stock prices, indices, commodity prices, and other financial assets. This way, they can make smart choices.
9. Market Analysis
Provide in-depth research reports, market commentary, and analysis from Bloomberg’s team of financial analysts and economists. It helps users understand market dynamics and make informed decisions.
10. Economic Calendar
In your Bloomberg business news app clone, include a calendar of upcoming economic events, earnings releases, central bank meetings, and other key events impacting the financial markets. It enables users to plan their investment strategies accordingly.
11. Bloomberg Terminal Integration
For professional users, integrate with the Bloomberg Terminal to provide access to additional advanced features and financial data. It ensures seamless continuity between desktop and mobile experiences. Additionally, you can also integrate this feature when you build a news website.
12. Customizable Alerts
Allow users to set customizable alerts for price movements, news events, and other market updates. It delivers notifications through push notifications or email to keep them informed in real-time.
Best Bloomberg Terminal Alternatives of 2024
If you are planning to build an app like Bloomberg, it is vital to know who your competitors are. So, we have listed down the most popular alternatives of Bloomberg that might help you in creating the best news apps.
| Apps Like Bloomberg | Available Platform | Features | Downloads | Ratings |
| CNBC | Android | iOS |
|
5M+ | 4.4 |
| MarketWatch | Android | iOS |
|
1M+ | 4.1 |
| Reuters News | Android | iOS |
|
1M+ | 2.7 |
| Fox Business | Android | iOS |
|
500K+ | 3.6 |
| Benzinga | Android | iOS |
|
100K+ | 4.7 |
Cost To Build An App Like Bloomberg
Now you must be wondering “how much does it cost to build an app like Bloomberg?”. On average, the bloomberg mobile app development cost can range between $10000-$30000. It can exceed depending on the project specifications and factors of news app development cost.
For example, the cost to develop an app like Bloomberg with minimal functionalities can lie between $10000-$15000. However, your Bloomberg app development cost can increase if you add highly-advanced functions in it. Let’s now look at the table showcasing the fintech app development cost.
| App Complexity | Cost Estimation |
| Simple Bloomberg Finance App | $10000-$14000 |
| Moderate Bloomberg Markets App | $15000-$22000 |
| Complex Bloomberg Business Mobile App | $30000+ |
Besides, you can calculate the Bloomberg fintech app development cost by following the below formula:
Total Bloomberg App Development Cost = Hourly Rate Of Developers * Total Development Time
However, if you want to build an app like Bloomberg within your set budget, then you must consult with an Android or iPhone app development services provider or a fintech app development company. They would let you know the exact Bloomberg mobile app development cost and create or develop app like Bloomberg.
How Much Does It Cost To Maintain An App Like Bloomberg?
Now that you are well-versed with the Bloomberg news app development cost, it is time to know its maintenance cost. Well, the cost to maintain a mobile app like Bloomberg can be 15-20% of the total cost to develop an app like Bloomberg.
For example, if your cost to create or develop app like Bloomberg is $10000, then you are about to pay on maintenance between $1000-$5000. Let’s look at the maintenance table:
| App Maintenance Type | Cost(approx.) |
| Hosting Charges | $35 to $170 Per Month |
| Bug Fixing and Updates | $1000 to $2000 |
| Functional Services | $2000 Per Year |
| API Integration | $3000 Per Year |
| IT Support | $1000-$5000 per hour |
Besides, you must know that the bloomberg professional app cost for maintenance can vary on how much maintenance your Bloomberg app needs. So, if your Bloomberg connects app clone is outdated and requires some maintenance, then you should consult with a mobile app maintenance services provider.
Let’s Create A Top-notch Bloomberg App Clone!!
Developing an amazing Bloomberg app clone takes a keen eye for detail, and a thorough understanding of financial markets. Now that you are well-versed with the Bloomberg app development process, it is time to implement your ideas into reality.
However, it is advisable to hire an experienced fintech app development company with experience in financial data integration and app development is crucial to success. Their advice may be used to build an app like Bloomberg that satisfies user requirements and market expectations.
However, you can also develop a website like Moneycontrol with unique features. All you need to do is share your requirements with a reputable mobile app development services provider like Dev Technosys and take your business to new heights.
FAQ About Bloomberg App Development!
Q1. How Long Does It Take To Build An App Like Bloomberg?
The length of time it takes to create an app like Bloomberg depends on how complicated it is, how many features it has, and how big the team is. It usually takes 2-8 months to build an app like Bloomberg. To know the exact time frame to build an app like Bloomberg, you must connect with a trading app development company.
Q2. What Are the Benefits Of Bloomberg App Development?
The Bloomberg mobile app development provides users with real-time financial data, customizable alerts, portfolio tracking, and news updates. When you build an app like Bloomberg, it lets users make smart decisions with insights.
Q3. How Much Does Mobile Banking App Development Cost?
The mobile banking app development cost can lie between $10000–$25000 depending on the intricacy and project requirements. It is suggested to have a talk with a mobile banking app development services provider before investing in Bloomberg mobile app development.
Q4. How To Monetize An App Like Bloomberg?
Now you have built an app like Bloomberg, it is essential to monetize it. So as per the fintech app development services provider, below are the methods that you must check out:
- In-app purchase
- In-app advertisement
- Freemium model
- Subscription model
- Collaboration model
- Affiliate marketing
Q5. What Are the Advanced Features To Add In Trading Software Development?
You can integrate the below advanced features in trading software development that can help in user engagement and user performance:
- AI Personalized Chatbot
- Push Notification
- Payment Gateway
- Dashboard
