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Buzzfeed News

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media2 years ago•3 min saved

The End of BuzzFeed News: A Digital Media Era Comes to a Close.

BuzzFeed News, the digital media outlet that once dominated social media and threatened legacy news organizations, is shutting down its news division. The move marks the end of the digital media upstart frenzy that enlisted a new generation of young journalists. The demise of BuzzFeed News is a reflection of the changing media landscape, where publishers can no longer exploit social media platforms for traffic and revenue. BuzzFeed's co-founder and CEO, Jonah Peretti, plans to draw on the power of A.I. to help create content for BuzzFeed.

via CNN|

#buzzfeed-news #digital-media #journalism

media-industry2 years ago•4 min saved

The downfall of BuzzFeed News: A digital media reckoning.

BuzzFeed News, known for its fast viral scoops and sweeping investigations, is shutting down after years of painful layoffs and cutbacks. The news arm was never a profit driver and relied on its parent company's ability to keep it afloat. The shuttering of BuzzFeed News represents the end of an era for the digital publishing industry, as companies like BuzzFeed, Vox Media, and Vice Media that rapidly expanded and raised lots of cash at high valuations in the aughts are struggling in a dramatically different media landscape. The digital ad market, which BuzzFeed is mostly dependent on for revenue, has slowed significantly in response to economic uncertainty. Dozens of media firms are suffering from similar market conditions.

via Axios|

#buzzfeed-news #digital-media #journalism

business2 years ago•2 min saved

The Demise of BuzzFeed News: Layoffs and Shutdowns.

BuzzFeed News is shutting down as part of the media company's plan to cut 15% of its workforce due to challenges such as the COVID-19 pandemic, tech recession, declining stock market, and decelerating digital advertising market. BuzzFeed's business, content, tech, and administration teams are also part of the job cuts. BuzzFeed CEO Jonah Peretti said HuffPost, which was acquired by BuzzFeed in 2020, will open selected roles for BuzzFeed News staffers laid off. BuzzFeed News won a Pulitzer Prize in 2021 for international reporting on Chinese internment camps and the mass detention of Muslims.

via USA TODAY|

#business #buzzfeed-news #digital-advertising