BuzzFeed's content is often called clickbaity. Like “OMG 20 most cutest dogs you can’t resist”.
There for it drives tons of clicks on, Buzzfeed’s//Tasty’s website, but click alone don’t generate money for Buzzfeed//Tasty. They however do use the unique visitors per month and other metrics to get sponsors on board in the this thing called "native advertising". Which is advertising that one can think of as product placement.
So you ask how does it work?
well let me give you an example (Tasty will get sponsored by Coke, and using Coke the will make a yummy Coke Popsicles for the summer. And then they will push these videos on the Facebook, Youtube and Instagram channels, people seeing them will buy the product and try the recipe themselves.
So how much does Buzzfeed//Tasty make one of these videos?
About $20,000 to $50,000 per video.
So at the end of the day what Buzzfeed//Tasty really sell to brands and in it the ability to create viral style content, that they can distribute to the masses.
The greatest thing about Buzzfeed//Tasty, when it comes to modern day journalism, is that BuzzFeed journalists don't have to worry about writing about what will sell, but instead they have the freedom to write stories that people find important enough to share making it go viral.
Buzzfeed’s model is a model that works. Bite sized content that their audience loves and enjoy, that is why BuzzFeed has raised nearly $250 million in funding from NEA, Hearst, RRE Ventures, General Atlantic and NBC Universal. In its last round of funding in 2015 valued the company at $1.5 billion, Talk about a unicorn. 🦄