NewsBuzzfeed And Culture Genesis Merge In New Ad Partnership

Buzzfeed And Culture Genesis Merge In New Ad Partnership

Buzzfeed has inked a new deal with Culture Genesis that will allow them to bundle and market advertisements to diverse audiences.

Buzzfeed has inked a new deal with Culture Genesis, a YouTube network that financially empowers multicultural creators, that will allow them to bundle and market advertisements to diverse audiences.

As a result of the new deal, Culture Genesis, which oversees content creators like Steve Harvey, Kai Cenat, Cam Newton, and All Def Digital, will increase its scale of inventory to include BuzzFeed’s portfolio of multicultural brands like Cocoa Butter, Pero Like and HuffPost Voices, Digiday reports. Buzzfeed will in turn gain a new advertising sales partner to assist in the monetization of its ad inventory.

Under the agreement, advertisers have the opportunity to purchase brand activations, editorial sponsorships, and media inventory from both Culture Genesis and BuzzFeed across various platforms, including the web, YouTube, social media, connected TV, and FAST channels. Together, BuzzFeed and Culture Genesis reach 55 million households.

Specifics of the arrangement, such as the financial terms and any potential data-sharing agreements, have not been disclosed. Jonah Peretti, CEO of BuzzFeed, says the ad split “depends on the nature of each deal,” including which creators are involved and the inventory.

“The concept of packaging multicultural content to be sold by a [multicultural and] Black-owned principal is gaining traction as a way to add scale to what may otherwise have been too small of partner to be added to a media plan,” Peretti said. “It also provides another space for advertisers to spend money in support of [multicultural] audiences, as there remain few Black-owned media areas with enough scale and targeted reach.”

These types of deals could be “taking dollars that are earmarked for Black-owned media networks or publishers and essentially filtering it to white-owned media,” Justin Barton, SVP of digital strategy and partnerships at Black Enterprise said.

“You’re essentially using Black-targeted or Black-directed dollars and then pushing it off to a publicly-traded company and that’s not the intent of these pledges that the agencies or brands have made.”

Dévon Christopher Johnson, co-founder of The Black Owned Media Equity and Sustainability Institute (BOMESI) joins Barton in applauding the deal while expressing his hope that it won’t outshine advertisers’ diversity commitments.

“What I hope this becomes is an additional line item in the media plan [for agencies and brands]. What I hope it does not become is an easy way out from doing other diversity efforts,” he added.

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Source: Black Enterprise

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