|
2020-01-04 Home Front: Culture Wars
|
|
Great News - Buzzfeed's Almost Profitable!
|
Does this make them a 'non-profit' organization?
[WSJ] - BuzzFeed Edges Closer to Profitability After Tough Year
BuzzFeed has worked to stabilize itself after a tumultuous period last year in which it laid off 250 people following an annual loss that people familiar with the matter said was greater than $50 million.
"Learn to code...or mine coal"
Now, the onetime digital-media darling is edging closer to profitability thanks to staff cuts and efforts in recent years to generate new revenue streams, such as launching its own line of kitchenware and investing in a chain of stores selling quirky toys.
"There has been this idea that digital media companies have been forced to diversify their revenue because times have been tough," BuzzFeed founder and Chief Executive Jonah Peretti said in an interview. "But the other side of the story is that the internet has really allowed for the creation of a new kind of media company that wasn’t entirely possible in the past."
Ignore for now the sympathetic tone of the article and let's cut to the chase, as there are only two numbers I need - 2019's gross revenue of $320 million and an unstated loss amount that I'll generously say was cut in half from the 2018 loss, so that's $25 million. That's still an 8% loss. If those 250 layoffs involved an annual salary of $40,000, BuzzFeed saved all of $10 million from that cut, on an annual basis (the shitcanning happened mid-year). A lot more shitcannings than 250 will be required to close that gap.
I think it's safe to conclude BuzzFeed is now just another media company enjoying the same trajectory as most other media companies - straight into the shitter. 
|
Posted by Raj 2020-01-04 08:33||
||
Front Page|| [11133 views ]
Top
|
|
Posted by Raj 2020-01-04 08:52||
2020-01-04 08:52||
Front Page
Top
|
|
Posted by Frank G 2020-01-04 08:53||
2020-01-04 08:53||
Front Page
Top
|
|
Posted by Lex 2020-01-04 08:56||
2020-01-04 08:56||
Front Page
Top
|
|
Posted by CrazyFool 2020-01-04 08:57||
2020-01-04 08:57||
Front Page
Top
|
|
Posted by Raj 2020-01-04 09:04||
2020-01-04 09:04||
Front Page
Top
|
|
15:04 NN2N1
15:03 NN2N1
14:55 NN2N1
14:09 Grom the Affective
14:04 Super Hose
14:02 Super Hose
13:37 Procopius2k
13:35 Grom the Affective
13:34 Procopius2k
13:27 Grom the Affective
13:21 NN2N1
13:18 Grom the Affective
12:50 Remoteman
12:45 Secret Master
12:24 Matt
12:07 Abu Uluque
12:03 Grom the Affective
11:59 Grom the Affective
11:35 Super Hose
11:33 Super Hose
11:29 Besoeker
11:28 Besoeker
11:28 Super Hose
11:27 Besoeker
|
