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.