NBCUniversal said it agreed to make a $200 million equity investment in BuzzFeed, the online content company.
The investment follows last week’s $200 million investment in Vox Media, another digital content company. NBCU, a unit of Comcast, is looking to make sure it can reach younger consumers who are spending more time online—and less time with traditional media including TV.
"BuzzFeed has built an exceptional global company that harmonizes technology, data and superior editorial abilities to create and share content in innovative ways,” Steve Burke, CEO of NBCUniversal said. “They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players. We are pleased to be making this investment and for our companies to partner and work together."
As part of the investment, the companies will also explore strategic partnerships across both organizations in the coming months.
“It's a fascinating time for the media industry; social, mobile, digital, and broadcast platforms are converging to create new opportunities to connect with global audiences, and we're excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment,” said Jonah Peretti, BuzzFeed’s Founder and CEO.
BuzzFeed, reaches more than 200M monthly unique visitors and registers 1.5B monthly video views.
“BuzzFeed and NBCUniversal will be great strategic partners and we both have a lot to offer the other," said Kenneth Lerer, BuzzFeed’s executive chairman. "We look forward to collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands."