September 12, 2016
Jonah Peretti, founder and CEO of Buzzfeed, has announced that the internet media giant will be dividing its news and entertainment sectors in an effort to appeal to a younger generation. While deeply committed to its news sector, Buzzfeed hopes to take the company in a new, heavily video based direction. The decision reflects a broader look at media companies that are continuously turning to video and entertainment news in order to capture the attention from a younger audience. Under the new structure, Ben Smith, editor in chief of Buzzfeed, will lead Buzzfeed news while Ze Frank, president of BuzzFeed Motion Pictures, will oversee a new division called Buzzfeed Entertainment Group. Since its conception, Buzzfeed has been viewed as a digital success story drawing envy from media industry competitors around the world. Buzzfeed strives for new developments and innovations within the company in order to maintain its reputation, continue its personal and financial growth, and to benefit its large consumer base. While the decision to divide their entertainment and news sectors is one of Buzzfeed’s biggest risks to date, the decision can lead to a great payoff. Read more about this article on The New York Times.