The following is a summary of the BuzzFeed, Inc. (BZFD) Q2 2024 Earnings Call Transcript:
Financial Performance:
BuzzFeed reported an adjusted Q2 EBITDA of $2.7 million, representing a $5 million improvement year-over-year.
Q2 revenues grew in the programmatic advertising and affiliate commerce sectors.
Business Progress:
BuzzFeed has leveraged AI to launch new content formats contributing to increased audience loyalty and enhanced personalization.
Direct traffic remains a major source for BuzzFeed, surpassing third-party platforms.
Opportunities:
Continued innovation with AI platforms and content personalization to drive audience engagement and monetization further.
Expansion in affiliate commerce, particularly exemplified by strong performance during Amazon's Prime Day event.
Risks:
Pressured overall revenue performance due to declines in the direct sales channel.
Legacy digital media faces ongoing challenges, impacting overall market performance.
More details: Buzzfeed IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.