Examining Media Companies’ Ventures into Social Platforms Amid BuzzFeed’s Plans

This article explores the history of media companies’ attempts to create social media platforms, focusing on BuzzFeed’s new initiative. Efforts by media firms have largely been limited and unsuccessful. Additionally, the briefing highlights the rise of independent media, a TikTok outage’s impact on U.K. content creators, and strategies in podcasting to enhance audience engagement.

This week’s Media Briefing focuses on the historical efforts of media companies to establish their own social media platforms, especially in light of BuzzFeed’s recent initiative to counteract the influence of major tech algorithms by developing its own site. Notably, the number of companies that have attempted this is small, with even fewer achieving significant success.

In relevant developments, the Los Angeles Times owner has launched a new right-wing venture while exploring the feasibility of The Bulwark’s profitability. Additionally, as independent, creator-driven media outlets continue to prosper, Rooster Teeth is strategically seeking to reenter the market after facing challenges following last year’s shutdown.

Noteworthy is the increased activity among U.K.-based creators in the wake of a TikTok outage in the United States, during which they posted 15 percent more content compared to the prior week. This surge exemplifies the adaptability of content creators in response to platform changes.

Furthermore, podcast organizations and publishers are investigating how video elements contribute to the expansion of their audiences. As there is currently a lack of robust metrics for assessing the effectiveness of video content in attracting new listeners, they are establishing correlations between video viewership and overall audience growth across platforms.

In summary, media companies face significant challenges in launching successful social media platforms, as highlighted by BuzzFeed’s latest endeavor. Concurrently, trends indicate a shift towards independent creator-driven media and adaptive responses to platform changes, as seen in both the TikTok incident and the evolving podcast landscape. The pursuit of profitability and growth remains a persistent theme amid these transitions.

Original Source: digiday.com