NBCUniversal has invested yet-again in BuzzFeed with an additional $200m investment, with the duo revealing they are poised to work together to produce TV-style content beginning with a documentary-style crime series.
The latest round follows two earlier $200m investments from the Comcast-owned broadcaster, and BuzzFeed will now collaborate with NBC on the production and social distribution for NBCUniversal’s Content Studio, which delivers short-form digital video content to advertisers.
BuzzFeed has said NBCUniversal will now also represent its inventory to advertisers, in addition to the companies working together to create new "digital consumer experiences" for NBCUniversal premium content.
The next project they will develop together will be a documentary-style crime series which looks at the case of Jessica Chambers, a Mississippi teenager who was burned alive in December of 2014.
The companies have already partnered on several initiatives, including the broadcast of the 2016 Rio Olympics on Snapchat and the co-selling ad deals across linear and digital, as well as content partnerships like food platform Tasty featuring on NBC News’ Today.
"Over the past year, BuzzFeed has proven to be a valuable partner across our business. From the Olympics to the record-breaking launch of Secret Life of Pets, BuzzFeed has helped us engage millennial audiences with our content and extend the reach of our clients’ campaigns to new platforms,” said Maggie Suniewick, president of NBCUniversal digital enterprises. “We are looking forward to using the power of our brands to collaborate in more innovative ways that drive value for both companies."
BuzzFeed claims to reach over 500 million people around the world via its digital platforms.