Comcast Corp's NBC Universal
One of the first projects the companies will work on will be a documentary-like series on the unsolved mysterious killing of Jessica Chambers, a teenager from Mississippi who was burned alive in 2014. The show will be based on the investigative reporting of BuzzFeed journalist Katie Baker. Joe Berlinger, the Academy Award-nominated director of "Paradise Lost" and other true-crime documentaries, will be directing the docu-series. The Chambers case will be the first project because of its enigma. It was also a viral Internet story. The two companies hope that the joint docu-series project will attract high viewership, especially from millennials.
In addition, NBC Universal's unscripted production division Wilshire Studios will be developing two reality shows based on existing BuzzFeed content. One series will involve the Try Guys, a funny group of men at BuzzFeed known for filming peculiar stunts and challenges. The other series will be a continuation of "Mom vs. Chef," a cooking reality show that shows mothers competing against professional chefs to make everyday dishes. For "Mom vs. Chef," the companies have brought on Lee Metzger, the producer of NBC's popular singing competition series "The Voice." Finally, Matthew Henick, BuzzFeed's head of development, stated that the two companies hope to strengthen their partnership through more joint coverage of sports events like the Rio Olympics and a proposal to co-sell ad packages on each other's properties. NBC Universal has stated that the new shows produced by partnership will be both offered to NBC and its sister networks like Oxygen and the USA Network, and sold to cable competitors and streaming providers.
Although millennial viewers are becoming a increasingly more important consumer demographic, BuzzFeed has had trouble with growth. The company missed its revenue expectations in 2015, but rebounded with revenue growth of over 65% in 2016. BuzzFeed knows that expanding from social media and entertainment to serious journalism and TV platforms is key to a more diverse, successful future. On the other hand, NBC Universal is attempting to leverage the young viewership of BuzzFeed as it enters the process of modernizing itself to escape the growing challenges of traditional media. Perhaps BuzzFeed will be the partner that wins most, for it is reportedly preparing for an initial public offering (IPO) this or next year. No matter what transpires, investors in Comcast and BuzzFeed as well as consumers of new media have much to look forward to.
The author does not hold any positions in any of the stocks above.
