BuzzFeed, Culture Genesis to combine multicultural ad inventory to sell to advertisers
BuzzFeed has inked a new deal with Culture Genesis that allows the Black-owned and multicultural-targeted media network to package up and sell ads against BuzzFeed’s multicultural content, alongside its own inventory.
This will increase the scale of Culture Genesis’ inventory, with access to BuzzFeed’s portfolio of multicultural brands like Cocoa Butter, Pero Like and HuffPost Voices. BuzzFeed, meanwhile, gets an ad sales partner to help sell its ad inventory. The details of this deal, including the financial cut and any sort of data sharing agreement, were not made available.
The move comes at a timely point for the digital publisher: BuzzFeed needs to boost its ad sales. The company reported digital advertising revenue was down 35% year over year in its Q3 earnings report on Nov. 2, 2023, bringing in $32.6 million for the quarter.
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Source:: Digiday
