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BuzzFeed’s great leap into the future of digital media (hopefully): The Media Roundup

What's New in Publishing 29 Jun 2021 06:34

The future of digital media (according to BuzzFeed)

So all the manoeuvring and repositioning of BuzzFeed and its various properties has led to this. The long-awaited public offering of BuzzFeed is upon us. As Sarah Scire writes for Nieman Lab, that affords us a rare chance to peek behind the curtain at the trailblazing digital publisher, to see what it sees as its opportunities for growth and, perhaps more importantly, what it sees as its weak spots.

This paragraph in particular lays bare the scale of its ambition: “BuzzFeed plans to go public at an estimated valuation of $1.5 billion and predicts double-digit growth in multiple revenue buckets. The digital media company’s advertising revenue, for example, grew 13% in 2019 and 2020. But BuzzFeed management projects ad revenue to grow by 32% in 2021 and then at least 20% every year after that.”

A tall order, considering that the industry-wide growth has been estimated around 7% for 2021. Even with all the acquisitions it’s made to shore up its e-commerce revenue, there are real questions about whether BuzzFeed can continue to outpace the industry by that much.

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Sarah ScireNieman LabBuzzFeedPolitico
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