🚨 NEWS: BuzzFeed Reinvents as AI-Driven Media Co.
It ain't buzzing like it used to. Falling traffic and declining revenue have caused BuzzFeed to rethink its future as a media company.
For CEO Jonah Peretti, that means leaning fully into AI. The company is investing millions to launch what it describes as "an entirely new medium."
➡️ But this isn't just more pablum from ChatGPT. Peretti said BuzzFeed will soon be "so responsive and dynamic that our content and platform will feel almost alive."
The company's aggressive new vision was unveiled in a letter to shareholders this week. It ran more than 3,500 words, and in it Peretti outlined his case to build "the defining media company for the AI era."
Whether it's hype or a peek at a bold new media future, the BuzzFeed letter is worth a read. A few details here, with a link to the letter in comments below.
• BuzzFeed revenues & reach decline (2023) 🔻
• Company sells Complex & closes "Buzzfeed News"
• 2024: BuzzFeed launching major AI initiative 🤖
• Personalized "content modules" in app
• Customized news & tailored articles 📰
• Video: Personalized, interactive video
• "Infinite" Quizzes (endless engagement options)
• "Smart" Ads: Dynamically tailored for relevance 🎯
• Commerce: AI assistants for shopping online 🛒