Thursday, April 26, 2018
Business

BuzzFeed turns focus to producing its own viral videos

Jonah Peretti, founder and chief executive of the wildly popular website BuzzFeed, is trying to choose his favorite online video.

" 'Drunk vs. Stoned' was pretty fun," he finally says, singling out a BuzzFeed video in which a staffer tests whether it's easier to function on alcohol or on marijuana by getting really drunk and, on a different night, getting really baked. The three-minute video, featuring side-by-side comparisons of dancing, ball catching, drawing and Lego building, has scored more than 3.1 million views since its debut two months ago.

BuzzFeed itself is riding high these days. "Drunk vs. Stoned" was just the latest monster hit in its arsenal of viral social content, which altogether attracted record traffic of 85 million unique visitors in August, three times the number it had a year earlier. By this time next year, Peretti predicts, BuzzFeed will be one of the world's most-visited websites.

Peretti and BuzzFeed's staff members, self-described Internet nerds, have an uncanny ability to predict what will blow up online. The New York company measures success not by page views but by shareability — the number of people who like a post enough to pass it on to their friends via Facebook, Twitter, Pinterest and other social media channels.

"We would rather someone get to a post because a friend suggested it to them," said Doree Shafrir, BuzzFeed's executive editor. "No one wants to share something crappy, because then they look like idiots. We're very cognizant of that."

Launched in 2006, BuzzFeed is dominated by lighthearted, frothy fare: the funniest cat GIFs of the week, scandalous Miley Cyrus photos, 19 Reasons Why Pants Are the Enemy.

But Peretti, who also co-founded the Huffington Post, is determined to turn BuzzFeed into more than just a site known for funny lists and has been vocal about his ambitious plans to grow the company into an all-around media juggernaut for the mobile social age.

To do so, the 39-year-old hired Ben Smith from Politico to be BuzzFeed's editor in chief, beefed up the site's hard news coverage and invested in long-form journalism. To reach international readers, BuzzFeed on Monday announced that it would add Spanish, French and Portuguese versions of the site.

Peretti's latest push: a major video initiative that has brought BuzzFeed, naturally, to Los Angeles, where it has converted a former beauty supply store on Beverly Boulevard into a bureau largely devoted to conceiving and producing viral videos.

"Video was a huge missing piece," Peretti said during a recent visit to L.A., where he discussed his plans while shuffling a stack of yellow stickers printed with "omg," "lol" and "cute." "We wanted to do for video what we did with other kinds of content."

The video space has seen radical change in the past few years thanks to smartphones and tablets, which enable viewers to watch content online when and where they want.

The massive potential for social mobile video was exemplified last year by Gangnam Style, the over-the-top, dance-happy music video by Korean pop star Psy that attained new heights of virality. In December, it became the first video to hit 1 billion views on YouTube.

BuzzFeed's L.A. team, he said, is building the "TV studio and movie studio of the future" by creating original videos to fit these new patterns of media consumption, concentrating on a core audience of 18- to 34-year-olds who will binge watch and share its videos.

It's also a slick advertising move, media watchers say.

"The easiest money to be made in content is preroll ads in front of videos," said Gabriel Kahn, a professor at the Annenberg School for Communication and Journalism at the University of Southern California. "There's been kind of a stampede into video."

Not that BuzzFeed needs help generating money. The social news site gets all its revenue from so-called native advertising — shareable ads that look like BuzzFeed editorial content. Its revenue grew from zero four years ago to $20 million in 2012, and the company is on track to do $60 million this year.

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