The service is then slated for a region-wide roll out.
Bloomberg Extra will feature live rich-media TV feeds and news alerts via SMS and aims to expand the channel’s audience profile beyond business executives.
Jimmy Kim, Bloomberg’s head of network distribution and new media, said: “We want to expand our target audience, and we see new media as a tool for younger people who are mobile-savvy and might also be interested in financial news.
“The new service should be a great source of revenue and we will launch banner advertising once we generate a critical mass of subscribers in Asian and global markets this year.”
Meanwhile, Bloomberg is finalising plans for a creative pitch as part of a move to localise its brand for the Asia-Pacific region.
To date, the financial network has predominantly used advertising created centrally out of US headquarters, but the channel has signalled its intention to boost its profile in Asia as it looks to challenge rival CNBC.
The pitch is likely to be held in Singapore, where Bloom-berg’s Asia-Pacific operations are based.