BuzzFeed is closing its Pulitzer Prize-winning BuzzFeed News operation in a consolidation aimed at improving the company’s balance sheet. “We are reducing our workforce by approximately 15 percent today across our business, content, tech and admin teams, and beginning the process of closing BuzzFeed News,” BuzzFeed CEO Jonah Peretti explained in a memo to staff on Thursday. The layoffs will affect about 180 employees. The company will continue operating the meme-driven BuzzFeed.com while HuffPost, acquired in 2020 from Verizon, will carry the mantle for news reporting. Continue reading BuzzFeed News Closing as the Industry Continues to Struggle

BuzzFeed stock jumped last week as news of collaborative efforts with Meta Platforms and OpenAI began circulating. The New York-based digital media firm famous for viral content said it is using OpenAI’s artificial intelligence to enhance lists, quizzes and other content. Meanwhile, a 2022 deal valued at close to $10 million with Meta Platforms is seeing results as BuzzFeed trains creators to expand their online presence and generate content for Meta’s social platforms, including Facebook and Instagram. BuzzFeed shares, which were trading at under $1 through January, rose to $3.87 in after-hours trading on Friday. Continue reading BuzzFeed Eyes a Future Collaborating with Meta and OpenAI

News Corp and Facebook inked a deal that will let the social media platform license headlines from The Wall Street Journal and other Dow Jones media outlets including the New York Post for its ad-free news section. The Washington Post, BuzzFeed News and Business Insider are other publications that have reached similar arrangements with Facebook. The New York Times is in talks with Facebook, but has not revealed whether it is close to a deal. News Corp’s deal was complicated by WSJ’s digital subscription business model. Continue reading Facebook to License News From Dow Jones Media Outlets

Facebook, in preparation for a news section due to launch later this year, has offered news outlets as much as $3 million to license headlines and article previews. According to sources, Facebook has pitched Disney’s ABC News, Wall Street Journal parent Dow Jones, The Washington Post and Bloomberg, for deals that would last for three years. Google already offers AMP (Accelerated Mobile Pages) allowing articles to load quickly on smartphones, and Snapchat has revenue-sharing deals with publishers on its “Discover” tab. Continue reading Latest Facebook Pitch to Publishers Offers Licensing Fees

BuzzFeed has grown its monthly content views from 2.8 billion a year ago, to 7 billion today, the majority of which are video views. At the company’s Digital Content NewFronts presentation in New York, chief executive Jonah Peretti, who says BuzzFeed’s content is driven by a deep understanding of its audience, announced a new program with investor NBCUniversal to co-produce video content for brands. The partnership with NBCUniversal began last summer when the media titan invested $200 million in BuzzFeed. Continue reading With Video Views Growing, BuzzFeed Inks NBCUniversal Deal

BuzzFeed, already a top Facebook video contributor with four different brands, launched another one in October: Top Knot, which focuses on beauty and fashion. The Top Knot Facebook page already has nearly 1 million fans and has logged almost 200 million views in two months, with a handful of clips generating up to 7 million views each. BuzzFeed and NBCU, which invested $200 million in the company, are looking into ways to collaborate, in addition to an announced plan to jointly cover the 2016 Summer Olympics. Continue reading BuzzFeed Introduces Yet Another Top Facebook Video Page

Facebook, which just achieved a milestone of more than a billion daily users, has announced plans to share revenue with Facebook video content owners and launch a news app. The moves are aimed at keeping users on the platform as long as possible, and its competitors have the same goal in mind: Apple has its newsreader Apple News, partnering with The New York Times; Twitter Moments links tweets in a traditional story format; and Snapchat Discover app showcases stories from publishers including CNN, Vice, People and National Geographic. Continue reading Facebook Unveils Plan to Share Revenue with Video Creators

New media companies that attracted an entire demographic away from traditional television are making a counterintuitive move by producing TV programs, often in partnership with networks and other Hollywood players. BuzzFeed, Vice Media and Huffington Post are among the companies now inking deals with HBO, A+E Networks, Comcast’s Universal Studios and Hearst Television. One big reason why is that new media purveyors have to meet expectations of sky-high valuations, and TV is a more predictable revenue stream than online video. Continue reading New Media Companies Lured to TV by Revenue Opportunities

BuzzFeed, which currently draws more than 150 million average monthly viewers, wants to become known for more than its numbered lists popular with Web surfers. To achieve this goal, the startup just closed a $50 million investment from Silicon Valley VC firm Andreessen Horowitz. The investment will be used to develop new content sections for the site, create an in-house incubator for new technologies, and put more resources toward its LA-based video arm, BuzzFeed Motion Pictures. Continue reading BuzzFeed is Using Investment to Test a Host of New Features