MANILA, Philippines – The Wall Street Journal on Wednesday, January 25 , reported details about an agreement between Meta and BuzzFeed for the latter toThe agreement is said to be part of a $10-million deal that was signed in 2022, with both companies looking to capitalize on the creator economy, which sees individual users building audiences on social media platforms by uploading videos and other forms of content, and monetizing these followings with partnerships and sponsorships with brands.
BuzzFeed will also be providing training to creators to help them build audiences, and is “helping creators understand what makes content resonate widely.” The report added that BuzzFeed had historically been among the publishers that Facebook had looked to in order to understand trends and internet culture. In 2016, Meta paid $50 million to a number of publishers, including BuzzFeed, to generate live video content, which had been a big trend at the time.
Facebook faces a challenge in TikTok, whose users and their videos drew in more than a billion monthly active users in 2022. Meta’s deal with BuzzFeed is an attempt to make more effective creators in terms of drawing and keeping eyes glued to its platforms.The WSJ followed up on the report on the Meta-BuzzFeed deal about the latter’s interest in