Tag: buzzfeed

BuzzFeed, Vice woes signal crisis in digital-only media
5May By adminNo Comments
Technology

BuzzFeed, Vice woes signal crisis in digital-only media

[ad_1] With the closure of BuzzFeed News and bankruptcy looming at Vice, the once promising world of free digital media finds itself at a crossroads, seeing ad revenues dry up at the same time as disappointed investors begin walking away. BuzzFeed, one of the OG new media disruptors, announced in late April that it would shutter its news division. Translation: 180 jobs lost. As for Vice, the company -- once a darling that attracted major funding from Disney and Fox, among others -- has canceled its signature show Vice News Tonight, laid off 100 people, and is reportedly on the verge of declaring bankruptcy. The two media groups have different profiles and goals, but one thing they have in common is a reliance on advertising dollars to fund their operations. But in tough economic times...
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BuzzFeed to close news division, cut 15% of all staff
21Apr By adminNo Comments
Technology

BuzzFeed to close news division, cut 15% of all staff

[ad_1] Pulitzer Prize winning digital media company BuzzFeed will shut down its news division cuts another 15% of its staff across the company, adding to layoffs made earlier this year.BuzzFeed has approximately 1,200 total employees, according to a recent regulatory filing. In a memo sent to staff, co-founder and CEO Jonah Peretti said that in addition to the news division, layoffs would take place in its business, content, tech and administrative teams. BuzzFeed is also considering making job cuts in international markets. Peretti said in a memo to staff that he “made the decision to overinvest” in the news division, but failed to recognize early enough that the financial support needed to sustain operations was not there.Digital advertising has plummeted this year, cutting into the p...
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BuzzFeed Debuts AI Quizzes in Its First Use of the New Technology
16Feb By adminNo Comments
Technology

BuzzFeed Debuts AI Quizzes in Its First Use of the New Technology

[ad_1] BuzzFeed Inc. debuted a new line of quizzes that use artificial intelligence to respond to readers, the media company's first attempt to make money from the new technology. On Tuesday, BuzzFeed published quizzes, a format that the company is perhaps best known for, that respond using AI. One, related to Valentine's Day, is sponsored by the yard-care giant Scotts Miracle-Gro Co. and suggests which type of plant would make an ideal romantic partner. Others let readers write a romantic comedy or a breakup message using AI. While BuzzFeed quizzes usually involve multiple-choice questions, the AI-assisted versions let readers enter a word or phrase, creating more personalized results and more outcomes, according to Jess Probus, senior vice president of editorial. “With this, w...
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BuzzFeed Smashes Records for Trading Volume on OpenAI Frenzy
31Jan By adminNo Comments
Technology

BuzzFeed Smashes Records for Trading Volume on OpenAI Frenzy

[ad_1] Companies tied to artificial intelligence services recorded some of their highest trading volumes on record this month, amid a frenzy of interest in the ChatGPT tool, which generates conversation-style interactions. Companies tied to artificial intelligence services recorded some of their highest trading volumes on record this month, amid a frenzy of interest in the ChatGPT tool, which generates conversation-style interactions. Last week, Microsoft Corp. said it was investing $10 billion in OpenAI, the maker of ChatGPT, and BuzzFeed Inc. announced plans to use OpenAI to help with content creation. Over the weekend, Bloomberg News reported that the China-based search company Baidu Inc. is planning to roll out an artificial intelligence chatbot service similar to ChatGPT. Th...
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BuzzFeed soars on reports of plans to use ChatGPT’s OpenAI, Meta deal
27Jan By adminNo Comments
Technology

BuzzFeed soars on reports of plans to use ChatGPT’s OpenAI, Meta deal

[ad_1] BuzzFeed soars on reports of plans to use ChatGPT's OpenAI, Meta deal. Shares of BuzzFeed Inc extended gains to more than double in value on Thursday on reports the digital media firm was planning to use artificial intelligence to personalize and enhance its online quizzes and content. "In 2023, you'll see AI inspired content move from an R&D stage to part of our core business, enhancing the quiz experience, informing our brainstorming, and personalizing our content for our audience," Chief Executive Jonah Peretti said in memo to employees reviewed by Reuters. The Wall Street Journal, which first reported the development, said the company would use ChatGPT creator OpenAI for its content. The stock surged as much as 157% to $2.45 and was on track for its busiest sessi...
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