Journalism Pakistan
Journalism Pakistan
Even a win can't hide Pakistan's structural collapse in cricket فتح بھی پاکستان کرکٹ کے ڈھانچے کی تباہی نہیں چھپا سکتیJournalists stage walkout at post-budget briefing over government's dismissive attitude صحافیوں کا بجٹ کے بعد کی بریفنگ سے واک آؤٹ، حکومت کے توہین آمیز رویے پر احتجاجLegal storm brews as Dr. Nauman Niaz serves defamation notice on Shoaib Akhtar ڈاکٹر نعمان نیاز کی جانب سے شعیب اختر کو ہتکِ عزت کا نوٹسHRCP urges complete repeal of PECA, citing threats to free speech and civil liberties ایچ آر سی پی کا پی ای سی اے کے مکمل خاتمے کا مطالبہ، آزادی اظہار اور شہری آزادیوں کے لیے خطرہ قرارPFUJ condemns murder of journalist Syed Mohammad Shah, urges immediate justice پی ایف یو جے کا صحافی سید محمد شاہ کے قتل کی مذمت، قاتل کی فوری گرفتاری کا مطالبہState within a state? Police block reinstated Jang employees from resuming duties ریاست کے اندر ریاست؟ جنگ گروپ کے بحال شدہ ملازمین کو دفتر جانے سے روک دیا گیاMoeed Pirzada to report journalist Fakhar Durrani to FBI over alleged data theft معروف صحافی معید پیرزادہ کا فخر درانی کے خلاف ایف بی آئی کو رپورٹ کرنے کا فیصلہ

BuzzFeed to cut jobs to focus on advertising

 JournalismPakistan.com |  Published November 30, 2017

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BuzzFeed to cut jobs to focus on advertising

BuzzFeed has announced it was cutting an estimated 100 jobs as the news and entertainment website reorganizes its advertising efforts in the face of disappointing revenues.

The cuts will be mainly in the business and advertising divisions in the US operations, with a number of editorial and business employees cut in Britain, a spokesman said, confirming an earlier report in the Wall Street Journal.

The reductions represent around eight percent of its US workforce and less than six percent of BuzzFeed's 1,700 employees worldwide.

The move is part of a reorganization to diversify revenue in a difficult advertising market where online giants Google and Facebook are dominating.

Jonah Peretti, BuzzFeed co-founder and chief executive, said in a memo to staff: "As our strategy evolves, we need to evolve our organization, too - particularly our business team, which was built to support direct-sold advertising but will need to bring in different, more diverse expertise."

The Journal reported earlier this month that BuzzFeed - one of the most high-profile digital media operations which have been expanding globally - had delayed plans for a public share offering and would miss its revenue target of $350 million by 15 to 20 percent.

A similar scenario is playing out at rival Vice Media, suggesting that digital news startups are facing tougher-than-anticipated growth.

BuzzFeed has built its business around so-called "native" advertising which is custom-made content designed to resemble news, which is costly to produce.

This model saw some early successes but has floundered as online giants scoop up ad revenues with "programmatic" ads which are less expensive.

BuzzFeed has attracted investments including a $400 million round from NBCUniversal at a valuation of some $1.7 billion.

Digital media startups have seen expansion in recent years, but their gains have only partly offset the declines in the newspaper sector, according to recent studies.

Although startups like BuzzFeed and Vice have attracted capital, it remains unclear if the digital sector can develop profitable business models. - AFP/Photo: tes.com

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