- Tick-tock: The sound a clock makes.
- TikTok: The seemingly ubiquitous mobile video platform you’ve probably seen on social media.
- TicToc: Bloomberg’s lesser-known news platform.
If you’ve ever experienced frustration over homophones, fret not: Bloomberg announced its platform’s name change to QuickTake on Dec. 2.
The strategic name change helps Bloomberg distinguish itself to avoid confusion with the popular TikTok platform, a necessary move given the company’s plans for media expansion.
Variety reported that QuickTake will use Bloomberg’s newsroom staff of 2,700 journalists in 120 countries to continue producing news content, with “plans to launch QuickTake as a 24-hour linear streaming news channel available on OTT platforms.”
“We obviously see the similarities of the names,” QuickTake’s current (and TicToc’s former) general manager Jean Ellen Cowgill told Variety. “The other TikTok has been there and has been a factor [in the rebranding decision], but it’s more about leaning into a new name that represents what we’ve become.”
Variety also reported that “TicToc currently delivers 90 million monthly global views” across platforms, including social media essentials like Facebook, Instagram, LinkedIn and YouTube. The news platform also increased its audience growth by 79 percent between 2018 and 2019, notably with younger demographics, according to a Bloomberg press release.
Expect to continue seeing Bloomberg in the news, for both QuickTake and owner Michael Bloomberg’s 2020 presidential campaign. Meanwhile, you can stream Bloomberg TV for your news consumption.