Facebook parent Meta Platforms Inc. is paying BuzzFeed Inc. millions of dollars as part of an effort to bring more creators to the social-media giant’s platforms, according to people familiar with the situation.
The partnership comes as both companies are embracing the creator economy, in which individuals build large social-media audiences by posting videos and other content, and often make money on advertising or brand sponsorships.
As part of a deal reached last year that is valued at close to $10 million, BuzzFeed
agreed to help generate creator content for Meta’s
platforms and train creators to grow their presence online, the people familiar with the situation said. BuzzFeed, known since its early days for viral content such as listicles and quizzes, is helping creators understand what makes content resonate widely, the people said.
The partnership marks the latest iteration in a yearslong relationship between the companies. BuzzFeed largely built its business on content that went viral on Facebook, and the social-media giant has regularly looked to the publisher for help in tapping into trends in internet culture.
Creators in recent years have flocked to TikTok, a video-sharing app from Chinese parent company ByteDance Ltd. that is popular with younger audiences. According to research firm eMarketer, TikTok’s global user base grew 18% last year, while Meta’s Facebook plateaued and its Instagram platform grew 2.75%. Meta in its latest earnings report said nearly 2 billion people used Facebook daily.
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