BuzzFeed Reports 44% Revenue Decline in Byron Allen's First Full Quarter
· 24h ago · Originally reported by PPC Land
BuzzFeed's revenue dropped 44% to $26 million, with commerce revenue down 71% and ad sales falling 31%. The declines followed significant staff cuts in July, marking a challenging first full quarter under Byron Allen's ownership.
Why it matters
This matters because it highlights ongoing struggles for digital publishers to maintain ad and commerce revenues, especially after major organizational changes and in a shifting digital ad market.
Explain it like I’m new here
BuzzFeed made a lot less money from ads and online shopping after cutting many workers and changing owners.
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