BuzzFeed, Inc. on Tuesday reported a Q4 revenue increase of 18% to $145.7 million, reaching a total revenue of $398 million in 2021 — but time spent on BuzzFeed-owned sites and outside platforms is in decline, as is its quarterly commerce revenue.
This is BuzzFeed’s first earnings announcement for quarterly and full fiscal year results since acquiring Complex Networks and trading publicly in December 2021. New York City-based BuzzFeed was the first digital media property to go public. The company also acquired HuffPost in February 2021.
In Q4, BuzzFeed’s $16.7 million of revenue came from commerce — an area the company is aiming to prioritize over its content and advertising.