NBCU doubles up on investment in BuzzFeed
NBC Universal has upped its investment in listicle giant BuzzFeed, pumping an additional $200 million into the company best known for its social lists and quizzes.
Credit: BuzzFeed
Comcast, NBCU’s parent company, is making a strong social and digital native push, investing in BuzzFeed and Vox Media, to better serve its advertiser base, according to a Reuters story.
The newest investment in BuzzFeed doubles its initial buy, making NBCU’s stake in the company $400 million. It also invested $200 million in Vox Media. The move means NBCU will take on a larger role, selling ads for BuzzFeed and giving its ad inventory a greater reach. NBCU’s Symphony and BuzzFeed’s Swarm ad products will now be offered as one package to advertisers, letting campaigns run simultaneously across both platforms.
Collaborations between the two companies should also grow, following successful projects the two companies have had with the Rio Olympics and American Express, which had a strong social presence.
BuzzFeed will also be more entwined with NBCU’s content studio, producing advertiser-friendly content tailored to specific social platforms. Expect more money to go into Tasty, BuzzFeed’s food-themed business, according to Reuters, which will up its digital video operations.
BuzzFeed now has two divisions – news and entertainment – to help separate the content and find its audiences more easily. The money from NBCU should help it delineate those audiences even better.