🤖 Buzzfeed shutters news division, leans into AI

Less than one month after it shuttered its news division and laid off 180 staffers, BuzzFeed’s CEO says it’s “leaning into AI” in a Q1 earnings call.

📍 According to an official press release from the company, the media outlet is down 27% in its Q1 revenue compared with 2022.

📍 Additionally, both advertising and content revenue declined by at least 30%.

Buzzfeed founder and CEO Jonah Peretti said to address these shortfalls, the company will need to “adapt,” which will include integrating artificial intelligence (AI).

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