Buzzfeed missed its revenue target - by a lot.

An article in the Financial Times entitled "BuzzFeed slashes forecasts after missing 2015 targets" brings about the startling news that the Listicle makin' gif sharin' take-me-seriously-as-a-journalist writin' company projected $250 million in revenues last year, but made less than $170 million. For the mathematically challenged, it means they were off by a whopping eighty million and change. Further, the article said Buzzfeed's 2016 projections, initially at 500 million, has been revised downward to 250 million.
Like most companies who operate in the digital sphere, and make sure through harmless looking quizzes that we share everything about our lives so they can in turn serve targeted ads, Buzzfeed is less than transparent about its actual numbers. They chose instead to release an innocuous statement that they are very happy with where they are right now and happy with where they are going etc., etc. Sure.
Because I do not have a microwave mentality and I'm not swayed by shiny objects or gifs, I would prefer to talk about where Buzzfeed has been to get to the root problem. I could care less about where they think they are going; it's already been proven by their revenue projections that they're wrong. So let's get to it.

Gawker Hulk Hogan trial is any indication, that kind of sleaze behaviour doesn't bode well for the media outlet.
It also doesn't bode well for brands who have the option to choose not to advertising on the site any more. In the case of Gawker, brands have already chosen to walk away. I suspect Buzzfeed's missing its projections by more than a mile is also due in part to advertising revenue slumps. Whether or not it's because the brands finally know better is something I can only speculate.

Not to you, and not to brands.
The Financial Times article states that, while Buzzfeed still draws stupid amounts of numbers and we all know how easily it is to fake those but regardless, traffic isn't enough to make revenue. The ad model can only scale so much. A few years ago Jonah Peretti showed up to my agency to push the Buzzfeed's Snake Oil. Not one creative in the room was interested. Why in the hell would I leave the content in the hands of an employee whose main job is to create headlines like "13 Reasons why McDreamy is still McDreamy?" Answer: I wouldn't. And no self-respecting creative would. I'm starting to suspect a lot of agencies and their clients have wised up. Why spend the money on a media outlet that doesn't move the needle?
Buzzfeed is now chasing the content dream, putting up shop in L.A. along with every other media outlet from Vice to College Humor to Company Du Jour, hoping they can chase the money dragon to better times and bigger revenues.
I watch from across the street, almost literally, as this happens. And what I don't see is permissionless innovation any more. I smell desperation and a gaggle of ethically-challenged sleazeballs blundering their way to the next big thing, shitting on advertisers while begging for their money, making hubristic projections that are way way off, and hoping for enough revenue to keep the investor chumps coming. Or better yet, a buyout all together.
In other words, I see the same thing as I did when they first set up shop.
src="adland.tv/uzzfeed-knows-everything-about-you-and-can-sell-it/1891946734"> we share everything about our lives so they can in turn serve targeted ads, Buzzfeed is less than transparent about its actual numbers. They chose instead to release an innocuous statement that they are very happy with where they are right now and happy with where they are going etc., etc. Sure.
Because I do not have a microwave mentality and I'm not swayed by shiny objects or gifs, I would prefer to talk about where Buzzfeed has been to get to the root problem. I could care less about where they think they are going; it's already been proven by their revenue projections that they're wrong. So let's get to it.

This is the same reason that they recycle listicles all the time. It is also the same reason multiple imitators have popped up like Upworthy, whose traffic, by the way, has also dropped. People are tired of seeing the same stuff over and over again. It only takes modicum of focus before you realize companies who steal content, don't attribute it properly, and keep recycling the same content is a site that isn't worth much at all. Not to you, and not to brands.
The Financial Times article states that, while Buzzfeed still draws stupid amounts of numbers and we all know how easily it is to fake those but regardless, traffic isn't enough to make revenue. The ad model can only scale so much. A few years ago Jonah Peretti showed up to my agency to push the Buzzfeed's Snake Oil. Not one creative in the room was interested. Why in the hell would I leave the content in the hands of an employee whose main job is to create headlines like "13 Reasons why McDreamy is still McDreamy?" Answer: I wouldn't. And no self-respecting creative would. I'm starting to suspect a lot of agencies and their clients have wised up. Why spend the money on a media outlet that doesn't move the needle?
Buzzfeed is now chasing the content dream, putting up shop in L.A. along with every other media outlet from Vice to College Humor to Company Du Jour, hoping they can chase the money dragon to better times and bigger revenues.
I watch from across the street, almost literally, as this happens. And what I don't see is permissionless innovation any more. I smell desperation and a gaggle of ethically-challenged sleazeballs blundering their way to the next big thing, shitting on advertisers while begging for their money, making hubristic projections that are way way off, and hoping for enough revenue to keep the investor chumps coming. Or better yet, a buyout all together.
In other words, I see the same thing as I did when they first set up shop.