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Media Brand presentation

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Priyamvadha Ramakrishnan
Priyamvadha Ramakrishnan

Buzzfeed began in 2006 as a viral content website known for shareable lists, quizzes and videos. It has since expanded into more serious journalism while maintaining a strong focus on data and metrics to understand audiences. However, Buzzfeed faces challenges in transitioning from entertainment-focused content to quality journalism and establishing credibility while remaining dependent on social media referrals and native advertising revenue. Its future success will depend on producing cutting-edge news, diversifying audiences, and strengthening its brand identity and trust beyond just being a source of viral content for millennials.

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Priyamvadha Ramakrishnan
Brain behind the Feed- Jonah Peretti ➢ MIT graduate Web Developer ➢ Nike began it all ➢ Origin of The Huffington Post ➢ Founded the Reblogger ➢ Ambi dexterous Peretti ➢ Acquisition of Aol-HP in Feb 2011 for $315M ➢ Deviced ‘Social sharing concept’ ➢ Believed in ‘trending news’ & recrafted the idea into a logo
Personal Brand Perception: ➢ Lightweight journalism ➢ Casual entertainment catering to broad audiences ➢ TIMEPASS ➢ Not trustworthy, No credibility ➢ Redefined online video content ➢ Omnipresent in social media ➢ Image-heavy, text-light ➢ Content marketing, not strategy Fig. Comscore report on millennial app usage survey in 2015
User Experience, you said?
The Buzz Word - Shareable & Viral Content Sharing > Searching Competing, growing & mutually binding Culture of serious journalism with time and reflection Content marketing Vs. Content creation Dependent on Periscope, Vine for viral video sharing
A sneak peek into the B/S ➢ A successful decade of spreading online virality - BUZZFEED LABS 2006 ➢ 7 billion unique visitors p.m ➢ Current market value: $1.25B in revenue ➢ Tripled revenues from 2012 to 2013 ➢ Doubled investment in editorial content ($11 million in 2014) ➢ 2015 - Revenue loss of $480 million ➢ 2016- Cut projections in half
Content Content Content! ➢ Huge brand recall ➢ Engaging, Compelling ➢ Clickbait content ➢ Non-traditional native formats (GIFs, pins, lists) ➢ Sponsored & curated content ➢ Remixed and refined listicles ➢ Interactive & Immersive ➢ No content optimization for search engines ➢ Custom videos for HBO
The Advent of Native Advertising ➢ Highly profitable revenue model ➢ Inspires sharing, clickability ➢ No blatant product promotions ➢ Goal: Non-branded Content marketing ➢ Illusion as Innovation ➢ Boosted great brand identification in the competitive landscape ➢ Buzzfeed Creative: Custom brands video, list-style ad content similar to editorial content
Data and Metrics THE POUND PROJECT ➢ Multiple social media channel tracking- “The Propagation graph” ➢ Future content predictions ➢ Gain target audience insights HIVE ➢ Track editorial ideas across platforms ➢ Every unique content embedded into a central database with unique ID ➢ Connects common thread stories across disparate social media channels
M&A Spree: ➢ Late 2011: Social game Star.Me ➢ Sep 2012: King Fish labs ➢ End 2012: Facebook dating app Yoke ➢ Apr 2014: Art blogazine Hyperallergic ➢ Apr 14: Disney’s bid for acquisition ➢ Late 2014: Torando Labs ➢ Feb 2015: Cloud sharing platform GoPop
A peek inside- Board of Money Directors ➢ Key existing investors: RRE, SoftBank, Hearst, Lerer ventures ➢ New: Michael & Kass Lazerow ➢ Backlash with Union square ventures ➢ Partnership with Venture Capitalists ➢ NBC Universal - $200 million; Frank Cooper Next CCO and CMO ➢ Peretti’s worth: $1 billion ➢ Tensions between President/COO Jon Steinberg and Peretti
What makes Buzzfeed? ➢ Buzzfeed Brews: Newsmaker speaker series ➢ Global news team, own video production studio, sophisticated data operations, in-house creative ad agency ➢ Top industry partners: GE, Virgin mobile ➢ Culture that embraces change ➢ Devoted to data-driven metrics ➢ Media Buying ➢ 24/7 closed-loop feedback
Glitches & Stitches - Overview of Challenges ➢ 2012: Sued for IP, Plagiarism by viral political editor Benny Johnson ➢ Disturbing, offensive, religiously violating content display ➢ More than 75% referral traffic from off-platform distribution strategy ➢ Dependence on social media channels for ad revenue ➢ Increase in mobile ad sharing: Prevent ad-blocking, cookie bots, pop-up display banner ads ➢ More quantity than quality ➢ Irrelevant lists, quizzes deviating from central subject of search
Fro Animated GIFs to Quality Journalism ➢ Buzzfeed of immense value to the media & news world ➢ Ranks No.1 in Fast Company’s Most Innovative companies list ➢ Close in line: Gawker, The Onion, Upworthy, Vice, Vox ➢ Competitive advantage: Balance of art, science, and good judgement; Differentiation
BUZZ SWOT S w O T 1. Personalized content delivery 2. Robust data measurement 3. Viral and shareable user-generated content 4. Unique technology supporting content virality 1. Transition from pure entertainment content to quality journalism. 2. Leverage tech advancements like AR, VR, 360 videos 3. Increase sponsored content programs with top brands to gain traction and profits 1. High dependance on Facebook/Twitter to promote, distribute, share content 2. Tensions among top executives 3. Absence of Professional and experienced journalists 1. Increasing competition by new media entrants 2. Changing views and tastes of millennials 3. Varying perceptions and acceptance levels by global audiences 4. Socio-economic trends
Porter’s Five Forces Existing competitive rivalry Customers’ Bargaining Power - High power because of low switching costs - Increased reliance on digitization/online media - Availability of alternative entertainment sources Suppliers’ Bargaining Power - Decreasing levels of power for suppliers in media industries - Increasing number of content providers - Difficulty in gaining brand loyalty and credibility with audience Threat of Substitutes - Emergence of better established and credible digital sources/ traditional platforms - High penetration of Immersive video content Threat of new Entrants - Steeper learning curve because of maturing markets - Difficult access to powerful distribution channels - High initial capital requirements - Maturing markets for CNN, BBC -Vice Video content - Highly Fragmented industry (media)
The Brand Quotient ➢ Sustainable strategic positioning: Focus, segmented access, good variety ➢ Concrete operational effectiveness with competitive convergence ➢ Unique marketing activities, content strategies aligned with goals ➢ Better competitive performance in cost effective way ➢ Porter: Emerging business - Proprietary technology/data, receptive to changing socio-economic/cultural trends, opportunity for constant creative manifestation, small and significant mergers to amplify systems High High Low Low Productivity frontier Relative cost position Customervaluedelivered Fig. Graph showing operational effectiveness vs. strategic market positioning
Let’s talk Brand Equity BRAND AWARENESS ● Marketing promotions seen as investments to improve ad recall ● Aligned past performance to upscale future growth strategies ● Increasing levels of consumer knowledge PERCEIVED QUALITY ● More emphasis on quantity than authentic quality ● Non-appealing to certain local cultures, demographics ● Low value perceptions, credibility, lack of originality BRAND ASSOCIATION BRAND LOYALTY ● Creative, popular and influential new media player ● Customer captivity with the millennial generation ● Inconsistent global brand favorability among disparate target groups ● Attractive brand logo image, Immersive & highly engaging News and Entertainment content ● Popularity owing to social media distribution, key acquisitions ● Enough fluidity to adapt to new contexts,audiences, situations
The Wheel of Competitive Strategy A Target Market A Product line B Distribution C Purchasing A Research & Devp Sales B Labour B A Marketing Manufacturing C Finance & Control A- GOAL: To be a popular global news & Entertainment Media hub
Strategic Brand Analysis STRUCTURAL ANALYSIS CUSTOMER ANALYSIS ● Less focus on enhancing customer value & experience ● Shifts in consumer relationships ● Targeted, Personalized audience segmentation and unmet needs of millennials COMPETITION ANALYSIS ● Performing similar activities in a different manner ● Foresight in issue identification and crisis management ● Great market positioning, brand identification SELF ANALYSIS ● Self-reinforcing closed loop software systems ● Distinct culture, corporate DNA & values ● Non-credible, post-mortem news of minimum value ● Identifying right inflection points, people, technology ● Forge cutting-edge unique data security ● Lot of scope in the current market growth stage
The Trajectory Ahead ➢ Dual Focal points: Real-time news reporting, Investigative journalism ➢ Compete with traditional news brands ➢ Beyond mere user-generated content, Improve the search tool mechanism ➢ Media destination among youth, not just habitual browse ➢ Develop deeper understanding - Investment in Data/Insights ➢ Bank on the Business Model: Cooper ➢ IPO, Bulletproof businesses expansion Social traffic: 5X Search traffic SO is the new SEO
Commercial scope - TV business
The Fortune Teller ➢ How strong a brand identity is inherent within Buzzfeed? In spite of possessing prominent competitive advantages, have they established authenticity, credibility and trust factor with the audience? ➢ How successful will Buzzfeed’s venture into the commercial TV business be? Will online video streaming/ television network too be a part of its future trajectory? ➢ Till how long & to what extent will it depend on referral traffic from other social media channels, esp native ads? ➢ Will it move beyond user-generated content and produce cutting-edge quality news over time? How fast will this transition occur? Will it do good? ➢ Will Buzzfeed only target millennials or create original quality content suitable for different demographic audiences?
The Brand Report Card: A- POSITIVE ATTRIBUTES: ● Brand stays consistently relevant across all communication channels, networks ● Well positioned with great productivity ● Brand managers understand what the brand means to their consumers ● Brand backed up with good support systems ● Fully exploits repoirtre of marketing activities to build equity ● Equity looks at more positive assets NEGATIVE ATTRIBUTES: ● Irregular pricing structure, Low value perception by consumers ● Less sustainable and non-strategic content marketing activities ● Limited and fragmented brand portfolio and hierarchy ● Irregular monitoring of brand equity sources and assessment of brand audits
It’s not going to be about the future of Buzzfeed. THE FUTURE IS BUZZFEED.

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Media Brand presentation

  • 2. Brain behind the Feed- Jonah Peretti ➢ MIT graduate Web Developer ➢ Nike began it all ➢ Origin of The Huffington Post ➢ Founded the Reblogger ➢ Ambi dexterous Peretti ➢ Acquisition of Aol-HP in Feb 2011 for $315M ➢ Deviced ‘Social sharing concept’ ➢ Believed in ‘trending news’ & recrafted the idea into a logo
  • 3. Personal Brand Perception: ➢ Lightweight journalism ➢ Casual entertainment catering to broad audiences ➢ TIMEPASS ➢ Not trustworthy, No credibility ➢ Redefined online video content ➢ Omnipresent in social media ➢ Image-heavy, text-light ➢ Content marketing, not strategy Fig. Comscore report on millennial app usage survey in 2015
  • 5. The Buzz Word - Shareable & Viral Content Sharing > Searching Competing, growing & mutually binding Culture of serious journalism with time and reflection Content marketing Vs. Content creation Dependent on Periscope, Vine for viral video sharing
  • 6. A sneak peek into the B/S ➢ A successful decade of spreading online virality - BUZZFEED LABS 2006 ➢ 7 billion unique visitors p.m ➢ Current market value: $1.25B in revenue ➢ Tripled revenues from 2012 to 2013 ➢ Doubled investment in editorial content ($11 million in 2014) ➢ 2015 - Revenue loss of $480 million ➢ 2016- Cut projections in half
  • 7. Content Content Content! ➢ Huge brand recall ➢ Engaging, Compelling ➢ Clickbait content ➢ Non-traditional native formats (GIFs, pins, lists) ➢ Sponsored & curated content ➢ Remixed and refined listicles ➢ Interactive & Immersive ➢ No content optimization for search engines ➢ Custom videos for HBO
  • 8. The Advent of Native Advertising ➢ Highly profitable revenue model ➢ Inspires sharing, clickability ➢ No blatant product promotions ➢ Goal: Non-branded Content marketing ➢ Illusion as Innovation ➢ Boosted great brand identification in the competitive landscape ➢ Buzzfeed Creative: Custom brands video, list-style ad content similar to editorial content
  • 9. Data and Metrics THE POUND PROJECT ➢ Multiple social media channel tracking- “The Propagation graph” ➢ Future content predictions ➢ Gain target audience insights HIVE ➢ Track editorial ideas across platforms ➢ Every unique content embedded into a central database with unique ID ➢ Connects common thread stories across disparate social media channels
  • 10. M&A Spree: ➢ Late 2011: Social game Star.Me ➢ Sep 2012: King Fish labs ➢ End 2012: Facebook dating app Yoke ➢ Apr 2014: Art blogazine Hyperallergic ➢ Apr 14: Disney’s bid for acquisition ➢ Late 2014: Torando Labs ➢ Feb 2015: Cloud sharing platform GoPop
  • 11. A peek inside- Board of Money Directors ➢ Key existing investors: RRE, SoftBank, Hearst, Lerer ventures ➢ New: Michael & Kass Lazerow ➢ Backlash with Union square ventures ➢ Partnership with Venture Capitalists ➢ NBC Universal - $200 million; Frank Cooper Next CCO and CMO ➢ Peretti’s worth: $1 billion ➢ Tensions between President/COO Jon Steinberg and Peretti
  • 12. What makes Buzzfeed? ➢ Buzzfeed Brews: Newsmaker speaker series ➢ Global news team, own video production studio, sophisticated data operations, in-house creative ad agency ➢ Top industry partners: GE, Virgin mobile ➢ Culture that embraces change ➢ Devoted to data-driven metrics ➢ Media Buying ➢ 24/7 closed-loop feedback
  • 13. Glitches & Stitches - Overview of Challenges ➢ 2012: Sued for IP, Plagiarism by viral political editor Benny Johnson ➢ Disturbing, offensive, religiously violating content display ➢ More than 75% referral traffic from off-platform distribution strategy ➢ Dependence on social media channels for ad revenue ➢ Increase in mobile ad sharing: Prevent ad-blocking, cookie bots, pop-up display banner ads ➢ More quantity than quality ➢ Irrelevant lists, quizzes deviating from central subject of search
  • 14. Fro Animated GIFs to Quality Journalism ➢ Buzzfeed of immense value to the media & news world ➢ Ranks No.1 in Fast Company’s Most Innovative companies list ➢ Close in line: Gawker, The Onion, Upworthy, Vice, Vox ➢ Competitive advantage: Balance of art, science, and good judgement; Differentiation
  • 15. BUZZ SWOT S w O T 1. Personalized content delivery 2. Robust data measurement 3. Viral and shareable user-generated content 4. Unique technology supporting content virality 1. Transition from pure entertainment content to quality journalism. 2. Leverage tech advancements like AR, VR, 360 videos 3. Increase sponsored content programs with top brands to gain traction and profits 1. High dependance on Facebook/Twitter to promote, distribute, share content 2. Tensions among top executives 3. Absence of Professional and experienced journalists 1. Increasing competition by new media entrants 2. Changing views and tastes of millennials 3. Varying perceptions and acceptance levels by global audiences 4. Socio-economic trends
  • 16. Porter’s Five Forces Existing competitive rivalry Customers’ Bargaining Power - High power because of low switching costs - Increased reliance on digitization/online media - Availability of alternative entertainment sources Suppliers’ Bargaining Power - Decreasing levels of power for suppliers in media industries - Increasing number of content providers - Difficulty in gaining brand loyalty and credibility with audience Threat of Substitutes - Emergence of better established and credible digital sources/ traditional platforms - High penetration of Immersive video content Threat of new Entrants - Steeper learning curve because of maturing markets - Difficult access to powerful distribution channels - High initial capital requirements - Maturing markets for CNN, BBC -Vice Video content - Highly Fragmented industry (media)
  • 17. The Brand Quotient ➢ Sustainable strategic positioning: Focus, segmented access, good variety ➢ Concrete operational effectiveness with competitive convergence ➢ Unique marketing activities, content strategies aligned with goals ➢ Better competitive performance in cost effective way ➢ Porter: Emerging business - Proprietary technology/data, receptive to changing socio-economic/cultural trends, opportunity for constant creative manifestation, small and significant mergers to amplify systems High High Low Low Productivity frontier Relative cost position Customervaluedelivered Fig. Graph showing operational effectiveness vs. strategic market positioning
  • 18. Let’s talk Brand Equity BRAND AWARENESS ● Marketing promotions seen as investments to improve ad recall ● Aligned past performance to upscale future growth strategies ● Increasing levels of consumer knowledge PERCEIVED QUALITY ● More emphasis on quantity than authentic quality ● Non-appealing to certain local cultures, demographics ● Low value perceptions, credibility, lack of originality BRAND ASSOCIATION BRAND LOYALTY ● Creative, popular and influential new media player ● Customer captivity with the millennial generation ● Inconsistent global brand favorability among disparate target groups ● Attractive brand logo image, Immersive & highly engaging News and Entertainment content ● Popularity owing to social media distribution, key acquisitions ● Enough fluidity to adapt to new contexts,audiences, situations
  • 19. The Wheel of Competitive Strategy A Target Market A Product line B Distribution C Purchasing A Research & Devp Sales B Labour B A Marketing Manufacturing C Finance & Control A- GOAL: To be a popular global news & Entertainment Media hub
  • 20. Strategic Brand Analysis STRUCTURAL ANALYSIS CUSTOMER ANALYSIS ● Less focus on enhancing customer value & experience ● Shifts in consumer relationships ● Targeted, Personalized audience segmentation and unmet needs of millennials COMPETITION ANALYSIS ● Performing similar activities in a different manner ● Foresight in issue identification and crisis management ● Great market positioning, brand identification SELF ANALYSIS ● Self-reinforcing closed loop software systems ● Distinct culture, corporate DNA & values ● Non-credible, post-mortem news of minimum value ● Identifying right inflection points, people, technology ● Forge cutting-edge unique data security ● Lot of scope in the current market growth stage
  • 21. The Trajectory Ahead ➢ Dual Focal points: Real-time news reporting, Investigative journalism ➢ Compete with traditional news brands ➢ Beyond mere user-generated content, Improve the search tool mechanism ➢ Media destination among youth, not just habitual browse ➢ Develop deeper understanding - Investment in Data/Insights ➢ Bank on the Business Model: Cooper ➢ IPO, Bulletproof businesses expansion Social traffic: 5X Search traffic SO is the new SEO
  • 22. Commercial scope - TV business
  • 23. The Fortune Teller ➢ How strong a brand identity is inherent within Buzzfeed? In spite of possessing prominent competitive advantages, have they established authenticity, credibility and trust factor with the audience? ➢ How successful will Buzzfeed’s venture into the commercial TV business be? Will online video streaming/ television network too be a part of its future trajectory? ➢ Till how long & to what extent will it depend on referral traffic from other social media channels, esp native ads? ➢ Will it move beyond user-generated content and produce cutting-edge quality news over time? How fast will this transition occur? Will it do good? ➢ Will Buzzfeed only target millennials or create original quality content suitable for different demographic audiences?
  • 24. The Brand Report Card: A- POSITIVE ATTRIBUTES: ● Brand stays consistently relevant across all communication channels, networks ● Well positioned with great productivity ● Brand managers understand what the brand means to their consumers ● Brand backed up with good support systems ● Fully exploits repoirtre of marketing activities to build equity ● Equity looks at more positive assets NEGATIVE ATTRIBUTES: ● Irregular pricing structure, Low value perception by consumers ● Less sustainable and non-strategic content marketing activities ● Limited and fragmented brand portfolio and hierarchy ● Irregular monitoring of brand equity sources and assessment of brand audits
  • 25. It’s not going to be about the future of Buzzfeed. THE FUTURE IS BUZZFEED.