NBCUniversal and BuzzFeed announced today that NBCU made an additional $200 million investment to expand the strategic partnership between the two companies and fund the growth of BuzzFeed’s news and entertainment network.
“With this investment, NBCUniversal and BuzzFeed will extend their advertising sales relationship,” the companies said in their announcement. “BuzzFeed will collaborate with NBCUniversal on production and social distribution for NBCUniversal’s Content Studio, which delivers platform-specific, short-form digital video content to advertisers. NBCUniversal will also represent BuzzFeed’s inventory to advertisers. Additionally, the companies will work together to create new digital consumer experiences for NBCUniversal premium content.”
Maggie Suniewick, President of NBCUniversal Digital Enterprises, commented: “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. We are looking forward to using the power of our brands to collaborate in more innovative ways that drive value for both companies.”
The announcement adds: “The new investment will also allow BuzzFeed to build on the company’s lead in digital media. BuzzFeed will focus on further developing data science and technology, growing the massive Tasty food media network, and creating cross-platform advertising products. Additionally, BuzzFeed News will expand its award-winning journalism on all digital platforms and continue to grow its digital video operations in Los Angeles, New York, and around the world.”
NBCU and BuzzFeed have already partnered on initiatives including the 2016 Rio Olympics on Snapchat, co-selling advertising deals across linear and digital, and content partnerships including Tasty on NBC News’ “Today” show. As we reported previously, NBCU made an initial $200 million investment in BuzzFeed last year.
Said Jonah Peretti, BuzzFeed CEO and Founder: “NBCUniversal has been a tremendous partner this past year and we can’t wait to do more with them. Our collaboration has allowed us to focus on our respective strengths, learn from each other, and serve our combined audience better with compelling news, entertainment, and advertising offerings that neither company could do on our own. The investment allows us to remain a fully independent company but have access to and resources from the strongest and best media company there is.”