(Reports suggested BuzzFeed could miss its target by as much as 20 percent.)įor Peretti, that meant rethinking BuzzFeed’s businesses. Both BuzzFeed and Vice Media were expected to miss revenue projections for 2017. Once high-flying startups realized that they would not be able to grow at the same rate as competition for digital ad dollars increases. “Since its inception, BFEG has operated as a catch-all for a broad, diverse collection of creative work,” Peretti explained Wednesday, adding that the new structure will “provide employees with greater clarity and focus in their roles.”īuzzFeed’s late November restructuring came amid a level-setting moment for the digital media industry. Peretti hinted at these changes in a memo to staff late last November when he revealed that BuzzFeed Motion Pictures would rebrand as BuzzFeed Studios to focus on film and television output under leader Matthew Henick, while video brands like the food-centric Tasty would be spun into a new group, BuzzFeed Media Brands. Frank will also continue to work on branded content initiatives for the company.ĬEO Jonah Peretti announced the change in a memo to staff Wednesday, explaining that Frank’s new role will give him the mandate to “draw on expertise from other teams across the company on a project-basis.”įrank is moving roles as BuzzFeed largely disbands the Entertainment Group it formed in summer 2016 to serve as an umbrella for all entertainment content, from shortform videos to the listicles and quizzes that first put BuzzFeed on the map. Ze Frank, a longtime BuzzFeed executive who for the last year and a half has overseen nearly all non-news efforts as president of the BuzzFeed Entertainment Group, is moving to the newly created role of chief research and development officer where he will lead a 12-person team that experiments with new video formats and emerging platforms. BuzzFeed is overhauling the structure of its entertainment group and shifting the division’s top executive into a more creative role, part of a larger company-wide reorganization that began late last year to diversify the digital publisher’s businesses.
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