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In this research, BuzzFeed's CEO, Jonah Peretti, shares his plan to transform BuzzFeed into an AI-driven tech and media company. While publishers are adopting AI technology at a rapid pace, BuzzFeed's previous strategies, such as short-form videos, haven't generated strong business outcomes. Moreover, marketers' use of X (formerly Twitter) lags behind other social media platforms, and ad spending on X has significantly dropped.
Agency executives have expressed frustration with Meta's ad platform bugs and inadequate compensation for overspending. Despite these challenges, Instagram and Facebook remain the top social media channels used by agencies.
Brief news summary
This research is based on unique data collected from our exclusive group of experts in the publishing, agency, brand, and technology industries. It is exclusively available to Digiday+ members. In this week's briefing, we explore BuzzFeed's plans to transform into an AI-driven tech and media company, the decline in marketers' use of X (formerly Twitter), and agency executives' frustrations with Meta's ad platform. The research highlights the increasing integration of AI technology in media and marketing workflows and the challenges and opportunities faced by industry players.
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