BuzzFeed Partners With CNN, Will Invest Low “Eight-Digit Sum” In YouTube News Channel

Another week…some more BUZZFEED press. Good for them. Who does their PR? They deserve a gold star.

TechCrunch

Social news site and meme aggregator BuzzFeed is partnering with CNN and YouTube to create a new online-video channel called “CNN BuzzFeed” that will be unveiled later today. Chief operating officer Jon Steinberg told the Wall Street Journal that BuzzFeed plans to invest a low “eight-digit sum” over two years in the video platform.

The YouTube channel will include archival and current content designed to be shared over social media networks. Steinberg says that BuzzFeed will create around three videos a week, focusing on serious news events.

The CNN partnership is the latest in a series of efforts BuzzFeed has made to become a top news source for 18-to-34 year olds, a demographic highly sought after by advertisers. The site’s business model has been a balancing act–its rewrites of popular Reddit posts and pictures of furry animals pull traffic to the ad-based site, helping finance BuzzFeed’s long-form features.

While…

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