The week BuzzFeed went public at the end of 2021, it crashed over 30% the following days. Is this a sign of how fragile digital media is as a business?
BuzzFeed has always been a leading player in the digital media publishing industry.
Throughout its history, it was able to leverage trends and the web culture that generates so many clicks and page views.
It also was at the forefront of sponsored content and how brands can leverage a media’s audience through native advertising and other forms of partnerships.
At one point during the 2010’s, BuzzFeed was even valued at 1.7B$.
What is BuzzFeed today on the eve 2022? The media group has a very large footprint and large audiences it leverages every day.
The question many are asking is how digital media brands like BuzzFeed, the likes of Vox, Vice, Bustle Media Group to name a few, must remain nimble and be able to work the murky waters of algorithms, national privacy policies, and evolving needs and expectations from audiences.
But the problem is that the bigger they get, the more challenging it becomes to remain agile and be at the top of all the trends and audience movements.
“Brand as media” is still something that many are advocating for, putting part of the power into the hands of the brands themselves, and we see a lot of tools and platforms being developed to move them in that direction, but larger media groups will remain a powerful locomotive to drive awareness and reach for a brand. A recent article in The Hustle touches on some of these points, in the wake of BuzzFeed’s IPO (Initial Public Offering).
What is your brand doing to grow its reach and awareness? Are you leveraging large media to reach more consumers and audience segments? Are you going the independent route and leveraging new tools to reach and target potential clients? We would love to hear from you, do not hesitate to reach out to the team here to do a deep dive into the audience growth strategies you could put in place!