On with Kara Swisher Ben Smith on the Turmoil at Buzzfeed, Fox News and Everything In Between
11 snips
Apr 24, 2023 
Ben Smith, the founding editor-in-chief of BuzzFeed News and former media columnist for the New York Times, discusses major shifts in the media landscape. He reflects on the closure of BuzzFeed News and the ramifications for journalism. The conversation delves into the Fox News settlement with Dominion, highlighting challenges faced by media companies today. Smith shares insights about his new venture, Semafor, and touches on how figures like Elon Musk are reshaping journalism and the implications for independent reporting in the digital age.
AI Snips
Chapters
Transcript
Episode notes
BuzzFeed's Rise and Fall
- BuzzFeed's initial success stemmed from mirroring the mixed nature of social media feeds, combining quizzes with news.
- This model faltered as platforms shifted away from news content due to political pressures and user dissatisfaction.
The Importance of Profitability
- Running a media company is difficult, and profitability is crucial for long-term survival. BuzzFeed's overspending, even during times of high cash flow, contributed to its downfall.
- Despite its prestige and awards, BuzzFeed News couldn't overcome the fundamental challenge of profitability in a changing media market.
The End of Social Media and News
- The relationship between social media and news has ended, as platforms prioritize other content.
- Publishers and journalists must look to alternative distribution methods such as email and audio to connect directly with audiences.