NBCUniversal buys into Buzzfeed

NBCUniversal buys into Buzzfeed

NBCUniversal has invested $200m in the fast-growing BuzzFeed.

The announcement from the division of cable giant Comcast comes less than a week after it made an identical investment in Vox Media, which runs the food blog Eater, SB Nation and Re/code.

Traditional broadcasters have scrambled to pick up viewers, especially millennials, as habits are reshaped by new technology that allows people to watch what they want, when they want to watch it.

Netflix, the frontrunner in on-demand viewing, added 3.3mworldwide subscribers during its last quarter, ending the period with 65.6m customers. About 900,000 of the additional subscribers were signed up in the US, where Netflix now has 42.3m customers.

HBO and Showtime are now offering streaming services for a standalone monthly charge, free of a traditional cable package.

Cable and satellite services have created stripped down packages seeking to lure millennials and others who want more control over what they pay for.

NBCUniversal said that it wants to begin collaborating on editorial content with its new partners. The deal could allow BuzzFeed to expand its reach.

BuzzFeed has more than 200m monthly unique visitors and has 1.5bn monthly video views, NBCUniversal said.

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