With over 5 billion views and 80 million website visitors each month Buzzfeed has become the news organization to beat. However over 75% of those views are due to content being published on other than Buzzfeed properties.
Buzzfeed, known for its non-traditional approach to news with articles like “These Are The 11 Most WTF Things Trump Actually Said In A Wall Street Journal Interview” was founded in November 2006 by Jonah Peretti, John S. Johnson III. and Kenneth Lerer, co-founder and chairman of The Huffington Post. With over 18 offices and 1,300 employees Buzzfeed has become a news organization that is changing the way we see news.
The biggest problem The New York Times faces is the legacy of being a print newspaper. The question is does that experience and expertise put them ahead of all the new “news” businesses or behind. The New York Times website sees 78 unique visitors per month and their video views are not known, although they are utilizing more and more video on their website.
As for syndication Buzzfeed has the New York Times beat with 75% of their content being viewed elsewhere. Again is it better to build the views on your own properties or is it more important to maximize traffic today at all costs?
But some say you cannot compare Buzzfeed to The New York Times.
According to Jay Yarrow in a Tweet…”BuzzFeed is a different business than NYT! Stop making this comparison, unless you think NYT should spin up an entertainment business.”
This is largely owing to the fact that BuzzFeed Entertainment is comparatively video-rich, which means the lighter side of the Buzzfeed business can reap the benefits of higher advertising rates and increased distribution on social media.
While others think the comparison is reasonable given that most news organizations are now increasing their focus to include lots of video. Buzzfeed built their business on video and the other news organizations are playing catch up by investing heavily in production of video content. Higher CPMs and a ready audience are driving demand for video, which is being met by generally text-centric outlets like The Washington Post, Vox and The Times.
In a world where traditional divisions between media companies are disappearing, perhaps valuing BuzzFeed alongside The New York Times isn’t outrageous as it sounds.
Gerry Smith @gerrysmith said this in an October 2016 Tweet:
BuzzFeed is now worth $1.7B
How that compares in publishing:
How do Buzzfeed and The New York Times rate on Glassdoor:
At Buzzfeed 62% would recommend working there to a friend and 82% approve of the CEO. At The New York Times 66% would recommend working there to a friend and 73% approve of the CEO. Not too different.
What is it like to work at Buzzfeed and The New York Times:
- “Great work/life balance — they threw together a carnival for us this summer”
- “Free lunch 2 days a week, free breakfast one day a week”
- “Good benefits and great work environment”
- “Good medical, dental, vision, retirement, free food”
- “Nice office, employee perks can be good sometimes, and produce some cool content”
- “Very bad/useless managers who won’t hesitate to throw you under the bus due to their poor management”
- “Still going through some growing pains”
- “Middle-management is offensively underqualified”
- “Low pay with no chance of raises or promotion”
- “Don’t know how competitive the full time pay would be”
The New York Times comments:
- “Great work life balance, I only work more than 40 hours a week when I’m so excited about what I’m doing that I can’t help myself”
- “Work with really smart people who are passionate about journalism”
- “Great people who helped me learn a lot”
- “Great brand with a long future ahead”
- “Great place for beginners to have a look at the journalism world”
- “Absolutely no work life balance, Senior management will slowly make you put in longer hours at work”
- “Software developers don’t have much role in product decision making”
- “Competitive environment, long hours”
- “Could use some more resources on career development”
- “Management will not care about your concerns because no one wants to deal with drama”
Check out the current jobs at Buzzfeed below