Revenues also rose 6pc to $10.5bn in 2019, as its terminals business added 2,000 more users, the analysts found. That came despite the percentage of revenues from terminals dropping from 85.2pc to 72.4pc over the period.
The average price of a financial terminal rose by 2.4pc to $1,968, according to Burton-Taylor, with the number of terminals climbing from 265,000 to 332,550 over the past decade.
That’s for a Bloomberg terminal. Crank through those numbers – revenue, times percentage from terminals, divide by number of users – and it’s $2,000 a month, not a year.
Which is, quite clearly, the result of market power and excess profits. But no one does go out there and demand regulation, break up, as they do with Google, Facebook and the rest. Can’t be because Mike himself is a good little cultural lefty, can it?