(Aug 23): Bloomberg, better known for its financial information terminals and wire service, has become the first major publisher to enter the arena of corporate advisory services.

The financial information provider will use data from across its assets to provide bespoke brand consulting, corporate communications and marketing strategy advice.

By charging clients between US$150,000 and US$200,000 (between $204,450 and $272,614) a month on average, Bloomberg hopes that its consulting offering will boost flagging advertising revenues.

Launched this month the new service has already won five clients.

The announcement comes as the company’s media arm seeks to diversify its revenues in the face of the growing challenge from the digital advertising, alongside an erosion of print advertising.

The new initiative is led by Andrew Benett, who joined Bloomberg Media as chief commercial officer this year after 13 years at advertising giant Havas.

Bloomberg does not disclose financial results, but analysts estimate it generates 80% of its US$9 billion in annual revenues from its terminals.