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BuzzFeed Discloses $5.3M In Restructuring Fees, Including Layoffs

BuzzFeed brought in $106.8 million in revenue during the second quarter as total time spent by users declined to 154 million hours, representing a 19 percent drop year over year. BuzzFeed CEO Jonah Peretti previously said in May during the company’s earnings call that he expected Q2 revenues to surpass $100 million. Though total revenue […]

BuzzFeed Sees Decline in User Engagement as Total Revenue Misses Expectations

In its first Q1 earnings report since going public, BuzzFeed reported $91.6 million in revenue, falling below Wall Street expectations, and a 4 percent decline in user engagement. Advertising accounted for the majority of BuzzFeed’s revenue, bringing in $48.7 million. Content revenue followed with $32.3 million during the quarter, with the majority of the growth […]

BuzzFeed Studios Plans Its Next Major Podcast Push, Inks Deal With Acast (Exclusive)

BuzzFeed Studios and the podcast company Acast have struck a multiyear deal that will see the two companies collaborating on a slate of six shows. While BuzzFeed will be responsible for the content, Acast will primarily lead the production, distribution and monetization of the shows across platforms. Additional premium content will also be available to […]

BuzzFeed Studios Plans Big Year After Rocky Public Offering

Richard Alan Reid knows there’s already a lot of content out there. The head of BuzzFeed Studios is aware of what he describes as Hollywood’s “dragged out transition” into digital and streaming, with all the major entertainment companies “consolidating and battling for subscribers” and the struggle for audiences to find works that resonate as they […]

BuzzFeed Names Complex’s Christian Baesler as COO

BuzzFeed has tapped Christian Baesler, the CEO of Complex Networks, to become the newly public company’s chief operating officer. Baesler, based in New York, will still remain CEO of Complex Networks as he joins BuzzFeed’s executive team, reporting to BuzzFeed CEO Jonah Peretti. Prior to leading Complex, Baesler spent a decade at Bauer Media Group, rising […]

Justin Long, Augustus Prew, Andrea Bang Join ‘Dear David’ Movie Produced by BuzzFeed, Lionsgate (Exclusive)

Justin Long, Augustus Prew (Amazon’s upcoming Lord of the Rings series) and Andrea Bang (A Million Little Things) have joined the cast of the Dear David movie, produced by BuzzFeed Studios and Lionsgate. The film, based on the viral 2017 Twitter ghost story by former BuzzFeed employee Adam Ellis, has wrapped production and is eyeing […]

Revenge of the SPAC? UTA, BuzzFeed (and Maybe Starz) Make Moves

For a good portion of 2021, it seemed as if SPACs, or special purpose acquisition companies, had fallen out of favor. The Biden administration imposed disclosure rules that chilled new entrants to the market, and the glut of new SPACs formed in 2020 and early 2021 gave companies considering a merger the ability to be […]

BuzzFeed Appoints Anjula Acharia to Board of Directors (Exclusive)

BuzzFeed has appointed Anjula Acharia, an investor and talent manager for Priyanka Chopra Jonas, to its board of directors as the company prepares to go public. Acharia’s board appointment will become effective at the end of Q4, when BuzzFeed’s acquisition of Complex Networks and its merger with the special purpose acquisition company 890 5th Avenue […]

BuzzFeed Revenue Rises as Plans to Go Public Stay on Track

BuzzFeed says that its revenue rose by more than 50 percent in Q2 of 2021, reflecting improvements in the advertising and ecommerce spaces. In a revised filing with the SEC, the digital media giant sys that its planned acquisition of Complex Networks from Hearst and Verizon and its planned merger with the SPAC 890 5th […]

Vice Raises $135M in Funding From James Murdoch Firm, Existing Investors

Vice Media’s dreams of going public appear to be on hold for the time being, with the company choosing instead to raise $135 million from some of its existing investors, including James Murdoch’s Lupa Systems, TPG and TCV, as well as Sixth Street and Antenna Group. The cash infusion will be used “to fund its […]

BuzzFeed and Vice Media’s Next Pivot: “Last Resort” Efforts to Go Public

During the venture capital-funded digital media boom of the 2010s, startup founders often voiced world-conquering ambitions. In 2014, Vice Media co-founder Shane Smith bragged: “We won’t be the next CNN or ESPN or MTV. We’ll be 10 times that size.” A year later, BuzzFeed CEO Jonah Peretti informed staff that they were building “a global, […]

BuzzFeed Going Public, Valued At $1.5B In SPAC Merger

Digital media giant BuzzFeed is merging with a special purpose acquisition company (SPAC) and going public in a bid to roll up and consolidate some of the digital media industry. The deal will value the company at $1.5 billion. The company says that it has agreed to merge with 890 5th Avenue Partners, a SPAC […]