Buzzfeed’s accounts for last year were filed on Friday. In a listicle-style summary, here are the main points;
Despite the mounting losses and the widespread redundancies, the latter average pay figure has gone up! All the problems outlined previously (see Why BuzzFeed Doesn’t Make Money) have got worse with the collapse of online consumer advertising rates. The rolled-up losses for Buzzfeed in the UK are now circa £20 million: at what point does the US HQ decide – having never made a profit in the UK – they want out of vanity publishing?