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· Posted on
February 21, 2024

Buzzfeed News is shutting down and there ain't no quiz or listicle that predicted that

Buzzfeed News will reportedly shut down and they will cut another 15% of staff.

What's the key learning?

  • For a period, Buzzfeed was considered the "cool kids of the media industry" with VC funding and poaching top journalists from established outlets.
  • Buzzfeed News' fall has many experts thinking that the relationship between news publishers and social media is pretty much over.
  • Buzzfeed leveraged Facebook - and Twitter to a smaller extent - during their rapid growth phase, while the social media channels helped BuzzFeed get distribution of their articles and quizzes.

👉 Background: BuzzFeed is the American online media, news and entertainment company that is widely known for its quizzes and listicles. But it also had a very big news team which reported on hard-hitting stories.

👉 What happened: For a period, Buzzfeed was considered the cool kids of the media industry …with VC funding… and poaching top journalists from established outlets. But now, Buzzfeed News will reportedly shut down and they will cut another 15% of staff.

👉 What else: The only news division remaining in the BuzzFeed family will be HuffPost, which BuzzFeed acquired in 2020.

What's the key learning?

💡Buzzfeed grew on the wings of Facebook… and fell on the wings Facebook. This fall has many experts thinking the relationship between news publishers and social media is pretty much over.

💡Buzzfeed leveraged Facebook - and Twitter to a smaller extent - during their rapid growth phase. The social media channels helped BuzzFeed get distribution of their articles and quizzes.

💡But as Facebook and Twitter have faced their own issues, Buzzfeed has become collateral too.

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