BuzzFeed Inc. Introduces Vertical Video Ad Format and Creator Ad Network

At its first event tied to the Upfronts season in five years, a recently expanded BuzzFeed Inc. unveiled a number of new offerings, including ad products, events and editorial initiatives, several of which were made possible by its December acquisition of Complex Media. Speaking to a room of marketers, chief executive Jonah Peretti touted the new offerings as merely the latest iteration of the longtime value proposition of BuzzFeed Inc.: that it reaches young, diverse audiences and inspires their purchasing behavior. Now, bolstered by its recent additions, the media company can do so at an even greater scale, reaching more than 125 million readers monthly. "Buzzfeed Inc. is now the digital media company for the most online, social, diverse generation the world has ever seen," Peretti said. "We offer influence at scale." BuzzFeed Inc. Unveils Lighthouse 2.0, Its Updated Suite of First-Party Data Tools The presentation aims to mark a new chapter for BuzzFeed Inc., which debuted to the public markets in December and has faced turbulence in the ensuing months, including layoffs and an internal spate over an allegedly botched shareholder payout. Despite the headwinds, the expanded reach of the company and the complementary nature of its primary properties––BuzzFeed, Complex Media and HuffPost––promised to create new opportunities in their combination. In the hour-long pitch, BuzzFeed Inc. revealed these new capabilities for the first time, reminding marketers of the vision Peretti has championed for the company over the last decade. Lighthouse, Catalyst and a vertical video ad format Chief revenue officer Edgar Hernandez formally introduced two additions to the BuzzFeed Inc. suite of ad products on Wednesday, an ad network for creators called Catalyst and an enhanced version of its first-party data platform Lighthouse. The two rollouts, which Adweek detailed last week, benefit heavily from the addition of Complex Media. The audience for vertical video is the most engaged audience we've ever seenJess Probus, svp of BuzzFeed editorial Complex Media created Catalyst to serve more than 40 independent creators, offering its ad tech infrastructure to manage the process and improve the ad revenue yields for rising social media entrepreneurs. Now a part of BuzzFeed Inc., Catalyst will encompass more than 100 creators, offering brands a vehicle for influencer marketing and vice versa. Lighthouse, originally unveiled by BuzzFeed in March 2021, will prove pivotal as publishers transition to serving ads based on first-party data. BuzzFeed Inc. debuted Upshots, an ad format specifically for vertical video formats like TikTok, Instagram Reels and YouTube Shorts. The star of the show, however, was Upshots, a new ad format designed exclusively for use in video vertical formats. Given the increasing importance of platforms like TikTok, Instagram Reels and YouTube Shorts—and the high level of engagement those platforms boast—marketers have sought more efficient ways to reach their audiences. With Upshots, BuzzFeed Inc. hopes to solve that problem. “The audience for vertical video is the most engaged audience we've ever seen,” said svp of BuzzFeed editorial Jess Probus. “And nobody understands how to drive and learn from engagement better than BuzzFeed.” First We Feast and Tasty debut Eat Your Feed On the events front, BuzzFeed Inc. introduced two new programs. The first, Eat Your Feed Fest, brings together the food properties of BuzzFeed and Complex Media––Tasty and First We Feast, respectively––to create a culinary event that will debut this fall. While the two properties bring different approaches to the world of food media, both have built efficient systems for turning culinary interest into purchasing behavior: Tasty has released more than 10 cookbooks––and First We Feast has turned its series Hot Ones into a merchandising bonanza. And speaking of commerce, Tasty general manager Hannah Bricker let slip that Tasty will be unveiling a new vertical this summer, called Tasty Home, that will bring readers inspiration and design tips for the kitchen and living room. BuzzFeed Studios expands original video On the editorial side, BuzzFeed Inc. offered two items of note. First, HuffPost editor in chief Danielle Belton announced that the publisher would be relaunching HuffPost Voices, a vertical dedicated to reporting that centers on marginalized communities. Second, the publisher underscored its investment in the world of original video content, with a sizzle reel that featured 12 new films or documentaries produced by BuzzFeed Studios. The film production arm of BuzzFeed Inc. has partnered with a number of distribution partners to release the movies, including Prime Video, Lionsgate, Netflix and Discovery+.