NBCUniversal doubles investment in BuzzFeed
NBCUNIVERSAL is doubling its investment in BuzzFeed, pumping another US$200 million into the internet media company.
“NBCUniversal made an additional $200 million investment to expand the strategic partnership,” the companies said in a joint release.
The deepened alliance will centre heavily on extending an advertising sales relationship between BuzzFeed and NBCUniversal, which is owned by US cable colossus Comcast.
Comcast invested an initial $200 million in BuzzFeed last year.
NBCUniversal and BuzzFeed have partnered on initiatives including the 2016 Rio Olympics on Snapchat and selling advertising.
“BuzzFeed has helped us engage millennial audiences with our content and extend the reach of our clients’ campaigns to new platforms,” NBCUniversal president of digital experiences Maggie Suniewick said in the release.
BuzzFeed founder and chief executive Jonah Peretti maintained the investment would allow the New York City based company to remain an independent operation, but give it access to NBCUniversal resources.
The infusion of money will also build up BuzzFeed’s food focused Tasty media network and create ad products, the companies said.
Founded in 2006, BuzzFeed has built itself into a well-known media and entertainment company. –