BuzzFeed slashed 47 positions at HuffPost in Tuesday in one of the company’s first actions since acquiring the rival news site in a deal with Verizon Media just three weeks ago. BuzzFeed CEO Jonah Peretti said Tuesday that the cuts were part of an effort to “fast-track the path to profitability” for the newly acquired property.
Two titans of the digital publishing space will soon merge, as BuzzFeed is acquiring HuffPost as part of a larger deal with Verizon Media. The newsrooms of HuffPost and BuzzFeed News will remain separate, though HuffPost’s editor-in-chief (currently an open role) will report to BuzzFeed News editor-in-chief Mark Schoof’s according to an email Schoofs sent to BuzzFeed staff.
The layoffs came swiftly last week. At Vice Media, 155 people lost their jobs. Quartz laid off 80. Condé Nast, publisher of glossy magazines such as Vogue, cut 100 people. And as BuzzFeed furloughed staffers at its overseas divisions, its U.S.-based staffers braced for similar cuts. For those who had been watching local newspapers struggle in the era of digitization, these announcements were sobering: Even the media business’s most savvy, innovative and glamorous players are hurting.
Comscore today announced that it has signed a renewal agreement to provide BuzzFeed with digital audience measurement. This one-year deal means BuzzFeed will have continued and expanded access to Comscore’s Media Ratings solution, including video and YouTube measurement tracking.
Revenue is up at the site founded by Jonah Peretti, who says he is “open” to being “part of a larger company” as a top editor departs.
From the posting of the dossier to the publication of a story now in dispute, BuzzFeed News is learning about the perils of the chase.
Vice, Vox and BuzzFeed, among other companies that once heralded the dawn of a new media age, are now grappling with decidedly old-media problems.
BuzzFeed is laying off around 100 employees as it reorganizes the business team that leads its advertising sales efforts. The digital publisher’s entertainment division is also being rebranded as BuzzFeed Studios.
Matthew Henick, a onetime teenage ringtone magnate, is leading the company away from popular shorts toward deals with production studios.
BuzzFeed is getting into the morning TV show business, kicking off an hour-long streaming show on Twitter on Monday, AM to DM, which launches at 10 a.m. ET for the later-waking millennials it’s targeting, and “BuzzFeed brass thinks will be a more authentic, modern version of the television classic.”
After eschewing banner ads for years, BuzzFeed is finally embracing them. BuzzFeed will introduce display ads that will be bought and sold using third-party ad technology on a global basis. The move is a bid to tap into its scale and monetize its owned-and-operated platforms more effectively.
On Thursday, Ron Lamprecht, NBCU EVP of business development and digital distribution, detailed NBC’s recent efforts around digital, including work with Snapchat and investments in BuzzFeed and Vox. In particular, Lamprecht discussed Snapchat and how, while monetization on the platform remains a challenge, NBC is benefiting from its work with the ephemeral social media service so far.
BuzzFeed and NBCUniversal revealed plans to intertwine their ad sales and production, as part of NBCU’s additional $200 million strategic investment in the digital media darling.
Earlier reports that NBCUniversal had invested a second $200 million in BuzzFeed after an initial $200 million investment are true, NBCU confirmed today. With the new funding, the companies will extend their ad sales relationship and collaborate on the branded content front,.
A year after making a major investment in BuzzFeed, NBCUniversal is doing it again. Sources say Comcast’s TV and movie arm is finalizing a deal that will put around $200 million into the digital publisher, at a valuation of around $1.7 billion. Those are roughly the same numbers NBCU used last year, when it first invested in BuzzFeed — except that deal gave BuzzFeed a post-money valuation of $1.5 billion.
Andrew Kaczynski and his team, which has made headlines unearthing audio and video on the campaign trail, leave BuzzFeed short-handed in the final weeks before the election.
Viacom is the only major media company that hasn’t made a big digital acquisition. But a management shake-up currently going on could change Viacom’s approach to the internet, with possible acquisition targets that could include BuzzFeed, according to sources. While the publisher has made no public plans to sell and is likely to seek an IPO next year, a proposed new slate of board directors at Viacom could alter that calculus.
Facebook is paying more than $50 million to 140 video creators, including legacy publishers, digital media companies and celebrities. BuzzFeed leads the pack with a $3.05 million deal over one year, with the New York Times and CNN not far behind, according to a document obtained by The Wall Street Journal.
BuzzFeed is gearing up a new video news initiative out of its New York offices to be led by Henry Goldman, who is moving over from running the non-scripted projects at its L.A.-based BuzzFeed Motion Pictures. The new unit “will be the center of a Venn diagram” between BuzzFeed’s news and Motion Pictures divisions, and it will be toying with new formats to see what catches on best with viewers.
The new initiatives with Mashable, Tastemade, Buzzfeed and Vox are designed to expand NBCUniversal Telemundo Enterprises’ efforts to reach the “Generation M” — mobile, multicultural, millennials — with original content tailored to their cultural interests.
And Pandora to digital video and BuzzFeed to Snapchat. A new study from the VAB claims to make these cross-platform comparisons buyers have been craving for years.
The network is celebrating Leap Day partnering with American Express to create custom show content to add to the broadcasts of Blindspot, Late Night with Seth Meyers, The Voice and Today. In addition, BuzzFeed will create social content around the shows to drive tune-in.
The Wall Street Journal is reporting that companies like BuzzFeed, Vice Media and Huffington Post are known as “new media” specialists. Now, they’re venturing aggressively into a decidedly old-media stronghold: television. WSJ subscribers can read the full story here.
BuzzFeed is bring native political video ads into its mix, and Rena Shapiro has been tapped as VP, politics and advocacy, to oversee the venture. BuzzFeed Motion Pictures will collaborate in the venture, and the ads will — no surprise — be labeled as such.
Media giant NBCUniversal has an Achilles’s heel, according to its top executive. And it hopes it has come up with a cure for the ailment. CEO Steve Burke said the company took a look at four different outlets: BuzzFeed, Vox, Vice and Huffington Post. NBCU recently announced it would invest $200 million in each of the first two companies, in deals that will allow for content sharing, joint advertising pacts, and said Burke, education. “We like their businesses, but the real deal is we are going to get smarter” about reaching consumers with content through digital outlets.
As part of the deal, the parties will also explore strategic partnerships across both organizations in the coming months.”We look forward to collaborating on television content, movies, the Olympics and joint partnerships with ad agencies and brands,” said Buzzfeed Executive Chairman Kenneth Lerer.
The Wall Street Journal is reporting that Comcast Corp.’s NBCUniversal is scouting out several companies in the world of new media for potential deals as the cable giant tries to court young consumers who are watching less traditional television. The company has engaged in preliminary discussions with several online publishers including Vice Media, BuzzFeed and Business Insider, and has discussed increasing its roughly 14% stake in Vox Media, according to people familiar with the matter. WSJ subscribers can read the full story here.
Speaking at the Cannes Lions advertising festival on Wednesday, BuzzFeed Chief Executive Jonah Peretti said the company is now actively exploring ways to bring the BuzzFeed brand to television sets. The challenge, according to Peretti, is in figuring out how to adapt BuzzFeed’s approach and digital strengths for the analog world.
The growth of Buzzfeed‘s investigative unit to 17 staffers — with two more on the way — reflects the increasing emphasis on serious journalism by the site that has made its name and makes its money from its uncanny sense of what will blow up on social media, for its endless supply of sometimes silly, sometimes transcendent listicles, offbeat tales and wacky photos.