Verizon Media and BuzzFeed signed a new strategic partnership across content and advertising, including the acquisition of HuffPost, a media platform for news, commentary, entertainment, features, and lifestyle content, by BuzzFeed, and an investment that will make Verizon Media a minority shareholder in BuzzFeed.
As part of the agreement, Verizon Media and BuzzFeed agree to syndicate content across each other’s platforms, create an innovation group to explore monetization opportunities, and leverage emerging ad formats, including extended reality (XR) and AR applications. BuzzFeed will also have the opportunity to leverage Verizon Media Immersive, an online XR platform for advertising and content and to tap into Verizon Media’s ad platform, which provides access to qualified data sets while reaching consumers across all channels, including mobile, desktop, video, native, addressable TV, Connected TV (CTV), Digital Out of Home (DOOH), and audio.
As part of the deal, HuffPost will continue to contribute to Verizon Media’s portfolio as an official publishing partner, joining premium content partners such as The New York Times, USA Today, Associated Press, and Reuters. HuffPost content will be amplified via Yahoo channels and products, boosting traffic and monetization.
BuzzFeed will be able to syndicate content across Verizon’s Media brands, including Yahoo – a huge driver of traffic for HuffPost – and more. Additionally, Verizon Media will continue to manage sales for HuffPost’s ad inventory.
BuzzFeed’s acquisition of HuffPost will bring it back full circle to its original Founder and CEO, Jonah Peretti. With this acquisition, BuzzFeed plans to extend its lines of business across Huffpost’s complementary demographic. BuzzFeed News and HuffPost will operate as separate, distinct news organizations.
FinSMEs
20/11/2020