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1. Company Snapshot

1.a. Company Description

BuzzFeed, Inc., a digital media company, provides breaking news, original reporting, entertainment, and videos across the social web to its global audience.It provides BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a newsroom for young audience; Tasty, a platform for shareable food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content; and Complex Networks that offers culture content of music, food, style, entertainment, and sports.The company also offers As/Is for style, BringMe for travel, Goodful for wellness, and Nifty for DIY.


BuzzFeed, Inc.was founded in 2006 and is based in New York, New York.

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1.b. Last Insights on BZFD

Negative drivers behind BuzzFeed, Inc.'s recent performance include a lack of sell-side coverage, high volatility, and a lack of a stable shareholder base. The company's major former media investors exited due to strategic shifts, contributing to market conditions that have driven the stock to its lowest valuation in history. Additionally, BuzzFeed's efforts to counter the influence of tech platforms on the internet, such as its new social platform designed to spread "joy", may not be enough to offset the company's struggles with monetization and operational efficiency. The company's Q4 2024 earnings call also highlighted challenges in its business, including a high reliance on advertising revenue and a need to improve its balance sheet.

1.c. Company Highlights

2. BuzzFeed Navigates Shifting Media Landscape

BuzzFeed reported a modest 13% year-over-year revenue increase to $46.4 million in the second quarter of 2025. While this growth is encouraging, it's important to note that direct-sold advertising, a significant revenue source, declined by 31%. This decline was partially offset by a 23% surge in organic affiliate commerce and an 11% increase in programmatic advertising. Despite the revenue growth, net loss from continuing operations widened to $10.6 million compared to $5.4 million in the same quarter last year. This was largely driven by a $5.5 million non-recurring charge related to the extinguishment of convertible notes. Adjusted EBITDA came in at $2 million, which included a one-time $2.4 million reversal. Looking at the first half of 2025, total revenue reached $82.4 million, a 5% increase year-over-year.

Publication Date: Aug -17

📋 Highlights
  • Revenue Growth:: Q2 2025 revenue rose 13% to $46.4M, driven by 23% growth in organic affiliate commerce and 11% in programmatic advertising.
  • Studio Revenue Surge:: Studio revenue jumped 300% to $4.7M YoY, primarily due to a feature film release.
  • Net Loss Expansion:: Net loss from continuing operations widened to $10.6M, largely from a $5.5M non-recurring convertible note charge.
  • EBITDA Improvement:: Adjusted EBITDA reached $2M (including a $2.4M reversal), narrowing H1 2025 losses to $3.9M, down 71% YoY.

Studio Revenue Soars

A bright spot in the quarter was the studio segment, which saw revenue surge 300% year-over-year to $4.7 million, primarily driven by the release of a feature film. This success highlights BuzzFeed's potential in content creation beyond traditional news and viral content. As mentioned on the earnings call, "The strong performance of our studio division demonstrates the growing demand for high-quality, engaging content, and we are excited about the future of this business."

Looking Ahead: Challenges and Opportunities

For the full year 2025, BuzzFeed reaffirmed its guidance, projecting revenue in the range of $195 million to $210 million and adjusted EBITDA between $10 million and $20 million. The company is clearly focused on programmatic advertising and affiliate commerce as key revenue drivers. However, the company also acknowledged the importance of a strong Q4 performance, which is typical for the industry. BuzzFeed's investment in BF Island, an AI-native social media platform, is a long-term strategy to reduce platform dependency and provide a more positive user experience. The success of this venture will be crucial for BuzzFeed's future growth.

3. NewsRoom

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BuzzFeed, Inc. (BZFD) Q3 2025 Earnings Call Prepared Remarks Transcript

Nov -07

Source: seekingalpha.com

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BuzzFeed, Inc. Reports Q3 2025 Results

Nov -06

Source: businesswire.com

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BuzzFeed, Inc. to Release Third Quarter 2025 Financial Results on Thursday, November 6, 2025

Oct -15

Source: businesswire.com

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BuzzFeed: Fundamentals Alone Justify The Upside

Oct -03

Source: seekingalpha.com

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BuzzFeed Studios Relaunches Flagship “BuzzFeed Video” YouTube Channel: Fan-Favorites Return, New Series Launch

Sep -11

Source: businesswire.com

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BuzzFeed, Inc. (BZFD) Q2 2025 Earnings Call Transcript

Aug -08

Source: seekingalpha.com

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BuzzFeed (BZFD) Q2 Revenue Jumps 18%

Aug -08

Source: fool.com

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Phexxi -- A Non‑Hormonal Birth Control Brand -- Goes Viral with Microfeminism on TikTok, Featured by BuzzFeed and Scary Mommy

Jul -15

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.13%)

6. Segments

Advertising

Expected Growth: 5%

BuzzFeed's 5% advertising growth driven by increasing demand for digital content, expansion into new markets, and strategic partnerships. Additionally, the company's focus on native and video advertising, as well as its ability to leverage its large user base and engagement metrics, contribute to its growth momentum.

Content

Expected Growth: 3%

BuzzFeed's 3x growth driven by increasing demand for digital content, successful diversification into e-commerce and affiliate marketing, and strategic acquisitions expanding its reach and capabilities. Additionally, its focus on social media platforms, influencer partnerships, and viral content creation contribute to its rapid growth.

Commerce and Other

Expected Growth: 4%

BuzzFeed's Commerce and Other segment growth is driven by increasing affiliate marketing revenue, expansion of e-commerce partnerships, and growth in licensing and royalties. Additionally, the company's focus on experiential commerce, such as live events and product launches, contributes to the segment's 4% growth.

7. Detailed Products

Native Advertising

BuzzFeed's native advertising platform allows brands to create sponsored content that is seamlessly integrated into the BuzzFeed website and mobile app.

Branded Content

BuzzFeed's branded content team creates custom content for brands, including videos, quizzes, and articles that resonate with BuzzFeed's audience.

Influencer Marketing

BuzzFeed's influencer marketing platform connects brands with popular social media influencers who can promote their products to their followers.

Commerce Content

BuzzFeed's commerce content team creates product reviews, gift guides, and other content that drives sales and revenue for brands.

Data and Analytics

BuzzFeed's data and analytics platform provides brands with insights and data to inform their marketing strategies.

Video Production

BuzzFeed's video production team creates high-quality video content for brands, including commercials, explainers, and social media videos.

8. BuzzFeed, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

BuzzFeed's content is easily substitutable, but its strong brand recognition and user engagement mitigate this threat.

Bargaining Power Of Customers

Individual customers have limited bargaining power due to BuzzFeed's large user base and diversified revenue streams.

Bargaining Power Of Suppliers

BuzzFeed has a diverse range of suppliers, reducing dependence on any single supplier and limiting their bargaining power.

Threat Of New Entrants

The online media industry is highly competitive, and new entrants can easily replicate BuzzFeed's content and business model.

Intensity Of Rivalry

The online media industry is highly competitive, with many established players and new entrants vying for market share and user attention.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 62.38%
Debt Cost 7.17%
Equity Weight 37.62%
Equity Cost 19.54%
WACC 11.82%
Leverage 165.83%

11. Quality Control: BuzzFeed, Inc. passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
comScore

A-Score: 3.9/10

Value: 7.8

Growth: 3.7

Quality: 2.9

Yield: 0.0

Momentum: 8.0

Volatility: 1.0

1-Year Total Return ->

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Groupon

A-Score: 3.9/10

Value: 5.1

Growth: 2.0

Quality: 4.4

Yield: 0.0

Momentum: 10.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
MediaAlpha

A-Score: 3.6/10

Value: 7.0

Growth: 4.7

Quality: 5.8

Yield: 0.0

Momentum: 1.0

Volatility: 3.0

1-Year Total Return ->

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Stock-Card
BuzzFeed

A-Score: 3.3/10

Value: 8.3

Growth: 3.1

Quality: 4.8

Yield: 0.0

Momentum: 2.5

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
Vivid Seats

A-Score: 3.2/10

Value: 9.8

Growth: 3.9

Quality: 4.0

Yield: 0.0

Momentum: 0.0

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
TrueCar

A-Score: 2.9/10

Value: 8.4

Growth: 3.0

Quality: 4.5

Yield: 0.0

Momentum: 0.5

Volatility: 1.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.02$

Current Price

1.02$

Potential

-0.00%

Expected Cash-Flows