Subscribe to our free daily newsletters
. 24/7 Space News .




Subscribe to our free daily newsletters



INTERNET SPACE
BuzzFeed to cut jobs, refocus advertising
by Staff Writers
Washington (AFP) Nov 29, 2017


BuzzFeed said Wednesday 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 has 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.

INTERNET SPACE
Bezos a $100 bn man as Amazon rises on cyber shopping
San Francisco (AFP) Nov 27, 2017
Amazon founder Jeff Bezos was a $100-billion man on Monday as the online retail colossus raked in cash from the holiday weekend's cyber shopping spree. Forbes magazine's real-time ranking of the richest people had Bezos on top, with a personal net worth of $100.3 billion. Microsoft co-founder Bill Gates saw his net worth climb to a dizzying $89.4 billion but was relegated to being the se ... read more

Related Links
Satellite-based Internet technologies


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

INTERNET SPACE
Does the Outer Space Treaty at 50 need a rethink

NASA to send critical science, instruments to Space Station

Can a magnetic sail slow down an interstellar probe

SSL Selected to Conduct Power and Propulsion Study for NASA's Deep Space Gateway Concept

INTERNET SPACE
Flat-Earther's self-launch plan hits a snag

SSTL ships CARBONITE-2 and Telesat's LEO-1 for PSLV launch

Aerojet Rocketdyne supports ULA Delta II launch of JPSS-1

Old Rivals India, China Nurture New Rivalry in Satellite Launch Business

INTERNET SPACE
Gadgets for Mars

Ice shapes the landslide landscape on Mars

Winds Blow Dust off the Solar Panels Improving Energy Levels

Previous evidence of water on Mars now identified as grainflows

INTERNET SPACE
Nation 'leads world' in remote sensing technology

China plans for nuclear-powered interplanetary capacity by 2040

China plans first sea based launch by 2018

China's reusable spacecraft to be launched in 2020

INTERNET SPACE
Need to double number of operational satellites: ISRO chief

Space Launch plans UK industry tour

Astronaut meets volcano

European Space Week starts in Estonia

INTERNET SPACE
New way to write magnetic info could pave the way for hardware neural networks

Device could reduce the carbon footprint of ethylene production

Researchers inadvertently boost surface area of nickel nanoparticles for catalysis

X-rays reveal the biting truth about parrotfish teeth

INTERNET SPACE
First known interstellar visitor is an 'oddball'

Lava or Not, Exoplanet 55 Cancri e Likely to have Atmosphere

Images of strange solar system visitor peel away some of the mystery

Familiar-Looking Messenger from Another Solar System

INTERNET SPACE
Pluto's hydrocarbon haze keeps dwarf planet colder than expected

Jupiter's Stunning Southern Hemisphere

Watching Jupiter's multiple pulsating X-ray Aurora

Help Nickname New Horizons' Next Flyby Target




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement