The lights are being turned off for BuzzFeed News.
Following multiple hefty workforce reductions, BuzzFeed News can no longer financially support themselves as an independent news outlet.
CEO and founder Jonah Peretti announced in a company-wide memo via email on Thursday that they would be making a 15% cut from the workforce at the outlet across all departments. Additionally, he added that they would begin the process of closing BuzzFeed News.
While this heavy email may seem to have come out of left field, this is not the first instance of an abrupt staff reduction for “cost cutting.” According to an article published by USA Today, In December 2022 a similar instance occurred where Peretti released a statement that BuzzFeed News would be laying off roughly 12% of its staff.
This process is still active and shifting but, Peretti added, while BuzzFeed News will no longer stand on its own, it will be merging with HuffPost, an outlet acquired by BuzzFeed in 2020.
“Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience,” Peretti said to USA Today. For some of those who were laid off, this closure is not the end for their career as there will be some parallel job opportunities awaiting them at HuffPost.
To see BuzzFeed News be battered away amidst this situation is an unexpected circumstance considering it is regarded in the field of journalism as an iconic and imperative news outlet. Just two years ago, BuzzFeed News was awarded its first Pulitzer Prize for its international reporting. If that wasn’t enough to explain how important the platform has been, it has also won a George Polk Award, a Sidney Award, a National Magazine Award and the National Press Foundation Award.
It is no secret that BuzzFeed News encapsulated all that was needed to be an influential news source when you note all that it has been recognized for. However, the consistent pursuit for accelerated revenue might have been the final straw. According to an article by Current Affairs, “Peretti has been ruthlessly focused on maximizing traffic by any content necessary.”
The founder has pointed the blame to the COVID-19 pandemic, tech recession, tough economy, declining stock market, ongoing audience and platform shifts to explain why the outlet will no longer see the light of day. In the USA Today article Peretti admitted, “I could have managed these changes better as the CEO of this company and our leadership team could have performed better despite these circumstances.”
So, the question that bears to be answered, what does the future of investigative journalism look like without BuzzFeed News?
It is truly the end of an era. BuzzFeed News made a substantial mark in digital media that other sources didn’t prioritize. Despite being such a popular platform, it remained as an accessible source with no pay walls. It did not require a subscription with a monthly payment to view its content, which is a rarity in today’s media landscape.
On the topic of accessibility, it encompassed an open mind that allowed for all generations to have their voices heard. Sasha Urban, a student at USC, has written articles for BuzzFeed News covering sexual abuse on college campuses. It is crucial that outlets utilize their platforms to produce media that other generations find important to shine a light on. In this case, they supported Urban’s push to exploit these heinous issues that oftentimes get swept under the rug.
The future of BuzzFeed News in its next stage is to be determined. It will be interesting to see if it continues to uphold these standards in its merge with Huffpost, or if its image will be completely decimated along with its name.