Jon Steinberg of BuzzFeed was on Jim Cramer’s CNBC talk show, “Mad Money” today.
The segment provides an instructive look at modern media, and the audience for bite-sized pieces of news and entertainment.
I do not always like the BuzzFeed product, but I like the bold way Steinberg talks about his media company.
“For us, Facebook and Twitter, that’s the new network, that’s the new cable system. And we’ve mastered a way to create and optimize content on social,” claims Steinberg.
For revenue, Buzz Feed famously shuns the ad banner in favor of content-driven social advertising. “People only share things that they’re proud of, that make them look good. Things they want to stand for. So it’s the same thing with the advertising content,” he explains.
Steinberg says, “We look in 15-minute increments and our system gives more promotion to things that are being shared. It has to be shared to get additional promotion. That’s a really high standard.”