NBCUniversal confirms $200MN BuzzFeed investment
| 19 August 2015
NBCUniversal has confirmed a widely expected $200 million investment in digital publisher BuzzFeed, which values the millennial favourite at around $1.5 billion.
The move follows up a similar $200 million investment in competing site Vox Media, which valued that at $1 billion.
The companies say they will explore strategic partnerships in the coming months — the output of which could include collaborating on television content, movies, the Olympics, and joint partnerships with brands and ad agencies.
"It's a fascinating time for the media industry; social, mobile, digital and broadcast platforms are converging to create new opportunities to connect with global audiences, and we're excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment," said Jonah Peretti, BuzzFeed's founder and CEO.
The investments are likely part of an effort to expand exposure to younger demographics. More than half of BuzzFeed's 82.4 million unique visitors in July were between the ages of 18 and 34, according to comScore, which also said that Vox Media had a combined 54.4 million unique visitors in July, with more than 40% between the ages of 18 and 34.