Once again, President Trump is proven to be correct as BuzzFeed, which he called a “failing pile of garbage,” misses its revenue goals after seeing a large decrease in website traffic.
Imagine our shock.
“I think they’re going to suffer the consequences,” President Donald Trump said of BuzzFeed in January after the outlet published a 35-page unverified intelligence report claiming collusion between the Trump campaign and Russia.
Now, President Trump’s prediction has become a fact after BuzzFeed announced plans to cut jobs after missing revenue targets.
According to the Wall Street Journal, BuzzFeed is planning on reducing its U.S. staff by 8%, while also cutting back some editorial and business employees in the U.K.
A representative of BuzzFeed claims the layoffs are “completely unrelated,” and that the outlet’s audience is “a major asset.”
BuzzFeed also missed their 2015 revenue target of $250 million, by more than $80 million. This forced the outlet to reduce its 2016 target from $500m to $250m, the Guardian reports.
Recode reports, citing comScore, while website traffic for CNN, the New York Times, Fox News and the Washington Post, has increased over the past year, the number of visitors to BuzzFeed‘s website have been declining over the past two years.
According to the comScore data, BuzzFeed has seen a loss of 10 percent of website visitors since October 2016 and a drop of 12 percent since October 2015. SimilarWeb, another third-party data source used by Recode, supports the findings of comScore.
SimilarWeb found that BuzzFeed saw 134.7 million website visits in October 2016 but only 106 million visits in October this year.
Although these statistics do not take into account the traffic received from social media, such as Facebook, which is a large part of BuzzFeed‘s reach.
“Last month, BuzzFeed overall had more than nine billion monthly global content views across platforms, and BuzzFeed News had more than 250 million page views to our web pages,” a spokesperson for the outlet told Recode. The spokesperson also claimed BuzzFeed‘s own measurements, conducted via Nielsen which takes into account social traffic, indicated that compared to August, October saw an increase of 3 million visits.
The 250 million page views cited by BuzzFeed is a decrease from the 287 million visits the website received in March 2016. The March 2016 figure was also 14 percent lower than the 330 million visits in April 2015, according to SimilarWeb.
According to Recode, the outlet receives 42 percent of its traffic from social media, however, this isn’t necessarily a good thing as websites, such as Facebook, make changes which often affect the reach of publishers.
Featured Image Via Flickr/Anthony Quintano
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