NEW YORK — NBCUniversal has made an additional $200 million investment in Buzzfeed to expand the strategic partnership between the two companies and fund the growth of BuzzFeed’s news and entertainment network.
NBCUniversal has invested a total of $400 million in Buzzfeed to date. NBCUniversal is a division of Comcast and owns NBC, CNBC, MSNBC, Bravo and USA Networks.
With this investment, NBCUniversal and BuzzFeed will extend their advertising sales relationship. BuzzFeed will collaborate with NBCUniversal on production and social distribution for NBCUniversal’s Content Studio, which delivers platform-specific, short-form digital video content to advertisers. NBCUniversal will also represent BuzzFeed’s inventory to advertisers. Additionally, the companies will work together to create new digital consumer experiences for NBCUniversal premium content.
The new investment will also allow BuzzFeed to build on the company’s lead in digital media. BuzzFeed will focus on further developing data science and technology, growing the massive Tasty food media network, and creating cross-platform advertising products. Additionally, BuzzFeed News will expand its award-winning journalism on all digital platforms and continue to grow its digital video operations in Los Angeles, New York, and around the world.
“Over the past year, BuzzFeed has proven to be a valuable partner across our business. From the Olympics to the record-breaking launch of Secret Life of Pets, BuzzFeed has helped us engage millennial audiences with our content and extend the reach of our clients’ campaigns to new platforms,” said Maggie Suniewick, President of NBCUniversal Digital Enterprises. “We are looking forward to using the power of our brands to collaborate in more innovative ways that drive value for both companies.”
NBCUniversal and BuzzFeed have already partnered on successful initiatives including the 2016 Rio Olympics on Snapchat, co-selling advertising deals across linear and digital, and content partnerships like Tasty on NBC News’ TODAY.