Masters of Scale Rapid Response: BuzzFeed’s Jonah Peretti: Record-high audience, record-low revenue
Jun 6, 2020
Jonah Peretti, co-founder and CEO of BuzzFeed, shares his insights on navigating the challenges of a pandemic-impacted economy. He discusses record audience highs juxtaposed with financial struggles, stressing the need for resilience and innovative strategies. Peretti highlights BuzzFeed's focus on engaging content, the significance of supporting marginalized voices, and evolving the e-commerce experience into entertainment. He reflects on how crises can clarify purpose and the necessity of adapting to a rapidly changing media landscape.
AI Snips
Chapters
Transcript
Episode notes
Societal Impacts on Business
- Societal issues impact businesses and employees, particularly Black employees facing basic rights struggles.
- Companies are ill-equipped to act as a social safety net, especially during economic crises.
BuzzFeed's Social Justice Initiatives
- BuzzFeed supports social justice through content and internal initiatives like a book club.
- This promotes education and allyship among employees on issues of race and inequality.
Adapting to the Pandemic's Economic Impact
- Despite record traffic, BuzzFeed faced revenue loss due to partners' struggles outside digital.
- The company adapted by cutting costs, reorganizing, and focusing on e-commerce and digital strengths.