Agencia Estado

What Agencia Estado does

Agencia Estado S.A., operating commercially as Broadcast, is a Brazilian financial information company headquartered in São Paulo and a subsidiary of the Grupo Estado media conglomerate. Founded in 1970 and employing 1,001-5,000 people, the company provides real-time financial market data, news, and analysis to financial professionals, agribusiness participants, government and institutional clients, energy sector participants, and technology integrators across Brazil.

The company's core product is the Broadcast+ terminal — a real-time financial market platform combining news, market data, quotations, and decision-support tools — complemented by a portfolio of specialized vertical platforms (Broadcast Agro for agribusiness, Broadcast Político for political intelligence, Broadcast Energia for the electricity sector) and an expanding suite of data and content distribution solutions including Broadcast Datafeed APIs (supporting WebSocket and RESTful protocols in JSON, XML, CSV, and TXT), Broadcast Ticker, Widgets, Wallboard, Curadoria, Quant, Radar, and Fundos de Investimento. TradingView charting and B3's Trademate fixed-income trading platform are integrated directly into the terminal, and Broadcast White Label enables third-party branded deployments. Product roadmap signals include upcoming launches for BroadFast (investment management), AI capabilities, asset tokenization, credit, and investment management.

Revenue is generated primarily through B2B subscription licensing under formal multi-year master agreements, with terminal license fees varying by platform, data volume, and organizational size. Additional revenue streams include API/datafeed subscriptions, white-label licensing, and branded content/sponsored placements. The company distributes exclusively within Brazil, with international data provided via separate agreements with global exchanges and data providers. Pricing is not publicly disclosed; commercial engagement is conducted through a dedicated direct sales team and WhatsApp channel.

Name

Agencia Estado

Legal name

Agência Estado S.A.

Website

https://broadcast.com.br

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Agencia Estado operates Broadcast, Brazil's leading real-time financial market information platform, providing terminal subscriptions, vertical data products, and APIs to financial professionals, agribusiness, government, and energy sector clients across Brazil.

Ownership category

akta.pro rank

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Terminal Licensing (Broadcast+): Core revenue stream from licensing the Broadcast terminal platform to financial market professionals and institutions. Governed by the 'Contrato Master' formal licensing agreement, with content delivered via internet or other transmission means.
2. Vertical Platform Subscriptions: Specialized sector platforms (Broadcast Agro, Broadcast Político, Broadcast Energia) generate subscription revenue from professional users in respective industries.
3. Datafeed API Services: Revenue from providing APIs and data feeds for automated integration of financial data and content into third-party systems, sites, intranets, ERPs, algorithms, and applications.
4. White Label / Custom Solutions: Revenue from deploying customized branded content platforms for third parties using the Broadcast infrastructure.
5. Branded Content & Advertising: Sponsored content placements on the Broadcast platform, including branded articles and promotional content from partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Agencia Estado, through its Broadcast brand, provides a real-time Brazilian financial market information terminal (Broadcast+) covering equities, fixed income, futures, OTC, macroeconomic data, breaking news, and specialized verticals such as agribusiness (Broadcast Agro), politics (Broadcast Político), and energy (Broadcast Energia). It also distributes structured and unstructured data via APIs (Broadcast Datafeed), embeds market information through widgets/tickers/wallboards, curates news (Broadcast Curadoria), and offers a White Label platform for institutional partners. The offering is sold under Master Contracts to professional and institutional clients in Brazil.

Product overview

Broadcast | Agência Estado offers a comprehensive suite of content, data and technology solutions for financial professionals. The flagship platform is Broadcast+, a real-time financial market terminal. This core product is complemented by specialized vertical platforms (Broadcast Agro for agribusiness, Broadcast Político for political coverage, Broadcast Energia for energy sector), and data/API products (Broadcast Datafeed for system integration, Broadcast Ticker for headlines, Broadcast Widgets for embedded components, Broadcast Wallboard for displays). Additional offerings include Broadcast OTC for asset trading, Broadcast Curadoria for content curation, Broadcast Quant for quantitative analysis, Broadcast Radar for news monitoring, and Broadcast Fundos for investment fund analysis. The company also develops Broadcast White Label for customized deployments and is launching AI capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Broadcast+: Real-time financial market platform providing data, functionality, analysis and news
• Broadcast Agro
• Broadcast Político
• Broadcast Energia
• Broadcast OTC
• Broadcast Datafeed
• Broadcast Ticker
• Broadcast Widgets
• Broadcast Wallboard
• Broadcast Curadoria
• Broadcast Quant
• Broadcast Radar
• Broadcast Fundos
• Broadcast White Label
• Broadcast Weekend
• BroadFast
• Broadcast Trending News

Products and services

• Broadcast+ Real-time Brazilian financial market terminal consolidating equities, fixed income, futures, OTC, macroeconomic data, breaking news, and sector verticals for institutional and professional users.
• Broadcast Agro Verticalized agribusiness intelligence product providing news, data, and analysis on Brazilian agribusiness, commodities, rural economics, and crops alongside market data.
• Broadcast Político Continuous Brazilian political and regulatory intelligence product covering political developments, regulation, and institutional affairs.
• Broadcast Energia Verticalized energy-sector intelligence product covering the Brazilian energy market (electricity, oil & gas, renewables) integrated with broader financial market context.
• Broadcast White Label Turnkey, branded deployment of the Broadcast platform for institutional partners to redistribute market data and news under their own brand.
• Broadcast OTC Coverage and intelligence for the Brazilian OTC market segment within the Broadcast product family.
• Broadcast Datafeed Low-latency real-time Brazilian market data and news feed distributed via WebSocket and RESTful APIs in JSON, XML, CSV, and TXT formats for integration into partner systems.
• Broadcast Ticker Embedded market-data ticker component for displaying Broadcast information on partner sites and displays.
• Broadcast Widgets Suite of embeddable widgets that surface Broadcast market data and news inside partner digital properties.
• Broadcast Wallboard Wallboard-format display product for showing Broadcast market data and news on large screens in trading floors and public displays.
• Broadcast Curadoria Curated editorial and automated news-flow product (including audible news formats) delivering tailored Broadcast content to subscribers.
• Broadcast Quant Quantitative analytics product within the Broadcast family supporting algorithmic and quantitative investment use cases.
• Broadcast Radar Monitoring/radar-style product within the Broadcast family for tracking market developments, news, and signals.
• Broadcast Fundos de Investimento Specialized product covering Brazilian investment funds within the Broadcast product family.

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature15 records

Partnerships

Six partnerships are on record, tiered core and minor.

• TradingViewcoreTechnology or IntegrationTradingView provides charting technology for the Broadcast platform, enabling advanced market research tools, stock screeners, and financial charts integrated into Broadcast's financial terminal products.
• B3 (Trademate Integration)coreTechnology or IntegrationTrademate, the B3 exchange platform, is integrated into the Broadcast Terminal, providing greater liquidity, transparency, and efficiency in the Fixed Income market segment. This integration brings B3's trading infrastructure directly into the Broadcast data environment.
• The LedminorGTM or Marketing PartnerThe Led is a branded content sponsor on the Broadcast platform, publishing sponsored articles related to real-time data infrastructure topics.
• Fenics Market DataminorGTM or Marketing PartnerFenics Market Data sponsors branded content on the Broadcast platform as part of the company's marketing and awareness strategy.
• BepayminorGTM or Marketing PartnerBepay publishes branded content on the Broadcast platform covering global payment integration, remittances, and card solutions in international banking.
• International Stock Exchanges and Data ProviderscoreTechnology or IntegrationBroadcast maintains data agreements with international exchanges and market data providers ('Fornecedores Internacionais'), delivering international market data, B3 data, and global financial information to users. Per terms of use, users opting for international content must sign separate agreements with the respective international providers.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Direct peers

• FactSet: Provider of integrated financial information and analytical applications to investment professionals. Directly comparable on subscription-based terminal and data feed distribution to institutional buy-side clients.
• Bloomberg: Global leader in financial data terminals and real-time market information. Directly comparable to Broadcast+ as a flagship terminal serving financial professionals with real-time market data, news, analytics, and enterprise licensing — though at global scale rather than Brazil-focused.
• Morningstar: Provider of independent investment research, fund data, and analytics. Directly comparable on investment fund data (Broadcast Fundos de Investimento), financial data subscriptions, and vertical data products serving financial advisors and asset managers.
• S&P Global Market Intelligence (Capital IQ Pro): Capital IQ Pro delivers real-time market data, fundamentals, and analytics to financial professionals. Directly comparable in terminal + datafeed + API distribution to institutional clients, including investment funds and corporate finance teams.
• LSEG (London Stock Exchange Group / Refinitiv): Owner of Refinitiv and Eikon terminals, providing real-time financial market data, news, and analytics. Directly comparable on terminal product, data feeds, and B2B financial market information distribution model.

Emerging players

• Investing.com: Global financial data and news platform offering real-time quotes, charts, and analytics. Comparable on real-time market data delivery and content monetization, though focused on retail traffic rather than B2B terminal subscriptions.
• Trading Economics: Provider of economic indicators, financial market data, and forecasts. Comparable on real-time economic and market data APIs and historical data feeds, though smaller scale and global rather than Brazil-vertical focus.

Regional players

• InfoMoney: Brazilian financial content and data platform serving retail and professional investors. Comparable on financial news, market data, and investment content distribution to Brazilian audiences, though more retail-skewed.
• Valor Econômico: Brazil's leading financial newspaper and digital platform. Comparable as a Brazilian financial news and information brand serving professionals, but operates primarily as a media/news business rather than a data terminal and API provider.

Broad incumbents

• B3 (Brasil, Bolsa, Balcão): Brazilian stock exchange operator and source of much of the market data Broadcast redistributes. Overlaps via Trademate fixed income platform integration; a structural counterparty and potential competitor in proprietary data products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/agenciaestado
• YouTubeyoutube.com/@broadcastae
• Facebookfacebook.com/aebroadcast
• LinkedInlinkedin.com/company/agencia-estado
• Instagraminstagram.com/aebroadcast

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Agencia Estado