The Rise and Fall of BuzzFeed News in the Digital Media Industry.
TL;DR Summary
BuzzFeed News, which was launched in 2011 and won a Pulitzer Prize, has been shut down due to financial losses and a lack of sustainable revenue. The company went through multiple rounds of layoffs and missed revenue targets, and investors pushed for BuzzFeed News to be eliminated entirely. BuzzFeed CEO Jonah Peretti announced the closure in 2023, stating that the company could no longer afford to subsidize the news division. BuzzFeed will now concentrate its news efforts in HuffPost, a brand that is profitable with a highly engaged, loyal audience that is less dependent on social platforms.
- A history of BuzzFeed News, Part II: 2017–2023 Nieman Journalism Lab at Harvard
- Digital media industry in an 'in-between moment' amid layoffs says Washington Post Media Reporter Yahoo Finance
- The Death of 'BuzzFeed News' Was a Facebook Murder-Suicide Reason
- Jonah Peretti Is the Problem - by Jack Mirkinson Discourse Blog
- BuzzFeed, Blue Check Marks, and the End of an Internet Era The New Yorker
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