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📈 BuzzFeed Inc. issued the Q3 report. Let’s look at the most interesting parametres.
— User engagement drop by 32% during Q3 compared to Q2 (and -19% of 2021). In total, users spent 151 million hours with BuzzFeed’s content across the company’s owned and operated sites, YouTube and Apple News.
— Total revenue for Q3 — $103.7 million (+15% of 2021). It is 4-8% higher than forecasts.
— Advertising revenue (ads distributed against editorial and news content, including display and pre-roll) — $50.4 million.
— Content revenue (custom assets, including both short-form and long-form ranging from branded quizzes to Instagram takeovers to feature films) — $38.4 million (+45% year-over-year).
— Commerce and other revenues (affiliate marketplace, product licensing and events revenue) — $14.9 million (+12% year-over-year).
— In total BuzzFeed Inc. has about $59.1 million in cash now.
As to Q4 and the whole 2022 — revenue expectations are between $129 to $134 million.
Source: Yahoo Finance
BY MediaMedia ☮️
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