HuffPost turned profitable after BuzzFeed acquisition
Under BuzzFeed's ownership, HuffPost has become a profitable media company.
Why it matters: Profitability hasn't necessarily been in the cards for every media venture.
State of play: BuzzFeed CEO Jonah Peretti had said HuffPost's losses exceeded $20 million in 2020 and that it was on a similar trajectory for 2021. But Peretti quickly changed that through dramatic cuts and new investments.
- HuffPost operated profitably last year after the acquisition closed that February, a BuzzFeed spokesperson says.
- Now BuzzFeed is seeking to further grow HuffPost's revenue through investments like Voices, along with video and shopping.
- HuffPost is back to hiring again. The company now has 138 staff in the U.S. and 23 in the U.K., per BuzzFeed.
By the numbers: HuffPost's monthly unique visitors have fluctuated between 18 million and 44 million since 2018, per Comscore.
- Comscore reported 26.9 million unique monthly viewers for HuffPost Global, which includes all HuffPost U.S. viewers, in April, a BuzzFeed spokesperson tells Axios.
- It averaged 46 million monthly readers for the first quarter of 2022, per Comscore.
What's next: Peretti is also trying to turn BuzzFeed News profitable. BuzzFeed offered voluntary buyouts for about one-third of its 100 news division employees in March and is seeking to hire a new editor-in-chief.