Slide 1: Investor Presentation | November 2022
Investor Presentation | November 2022
Slide 2: Note to recipient: disclaimer
Note to recipient: disclaimer Forward-Looking Statements Certain statements in this presentation (this “Presentation”) may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
Slide 3: Note to recipient: disclaimer (continued)
Note to recipient: disclaimer (continued) Use of Data This Presentation contains estimates and information concerning our industry, our business, and the market for our products and services, including our general expectations of our market position, market growth forecasts, our market opportunity,
Slide 4: Note to recipient: disclaimer (continued)
Note to recipient: disclaimer (continued) Non-GAAP Financial Measures This Presentation includes certain non-GAAP financial measures—Adjusted EBITDA and Adjusted EBITDA margin (including on a forward-looking basis). These non-GAAP measures are in addition to, and not a substitute for or superior to,
Slide 5: About BuzzFeed Inc.
About BuzzFeedInc.
Slide 6: BuzzFeed, Inc. is a premier digital media company
BuzzFeed, Inc. BuzzFeed, Inc. is a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen.
Slide 7: History of growth and innovation.
BuzzFeed, Inc. History of growth and innovation. 2014 2015 & 2016 2017 2018 2018 2020 Dec 2021 2006 Releases Launches Launches >$100M in Partnership w/ Acquires Jonah Peretti launches programmatic revenue from (1) BuzzFeed advertising new revenue driving affiliate, streams to produce invests program
Slide 8: Long-term value creation.
BuzzFeed, Inc. Long-term value creation. Leading “Media 2.0” platform for the next generation of Internet Globally recognized digital brands with massive, engaged audience Designed to rapidly scale and monetize digital content Demonstrated platform for both growth and industry consolidation Reached
Slide 9: Our Business Model
Our Business Model
Slide 10: Portfolio of premium digital content brands that define culture.
BuzzFeed, Inc. Portfolio of premium digital content brands that define culture. Entertainment & Culture Food News #1 in time spent Leader in time spent Over 300 million Pulitzer Prize-winning among Gen Z and among males Facebook followers (3) news organizations Millennials(1) Ages 18-34(2) Emerging
Slide 11: Massive, highly-engaged audience.
Massive, highly-engaged audience. Total Annual Time Spent (in hours) 789M / 6% 741M / 20% 6 19M 2019A 2020A 2021A Time Spent / % YoY Growth Note: We define Time Spent as the estimated total number of hours spent by users on (i) our owned & operated US properties, (ii) our content on Apple News, and
Slide 12: Scaled model has powered network effects creating competitive barriers and driving growth.
BuzzFeed, Inc. Scaled model has powered network effects creating competitive barriers and driving growth. Leading audience Data-driven Scaled cross- Diversified & brands tech platform platform distribution revenue model Owned & Operated Commerce & other Nearly 800 million hours of content consumed i
Slide 13: Aligned with massive secular trends.
BuzzFeed, Inc. Aligned with massive secular trends. Video & Social High Quality Content Video advertising contributes to Big Tech platforms in need of traffic growth, increases average trusted, brand-safe supply of session time, attracts potential digital content at scale customers and increases sal
Slide 14: Diversified revenue model.
BuzzFeed, Inc. Diversified revenue model. Advertising Content Commerce & other Ads distributed against our Custom advertising assets for Affiliate commission earned on editorial and news content, clients, including both long-form sales transactions initiated including display, pre-roll and and short
Slide 15: Diversified revenue model operating at scale.
BuzzFeed, Inc. Diversified revenue model operating at scale. % Revenue Growth $398M +24% $62M +19% $321M $52M +9% $130M $120M +37% $206M $150M 2020A 2021A Advertising Content Commerce & other 15 Note: Dollars in millions. Revenues presented on an as-reported basis (2021A includes HuffPost and Comple
Slide 16: Delivering profitability at scale.
BuzzFeed, Inc. Delivering profitability at scale. Adjusted EBITDA(1) $42M $31M ($8)M 2019A 2020A 2021A Note: Dollars in millions. Adjusted EBITDA is presented on an as-reported basis (2021A includes HuffPost and Complex from each date of acquisition). 16 (1) Please refer to Appendix for Adjusted EBI
Slide 17: Powered by Rich Audience Insights
Powered by Rich Audience Insights
Slide 18: Proprietary tech stack creating growth flywheel.
BuzzFeed, Inc. Proprietary tech stack creating growth flywheel. Creating content requires data, technology and scale. All are key competitive moats and differentiators of BuzzFeed, Inc.’s relationship with audiences. Proprietary Quiz Headline Proprietary Machine Custom Tools for Maker Built into CMS
Slide 19: Powering organic growth of brands.
BuzzFeed, Inc. Powering organic growth of brands. In five years, BuzzFeed has built Tasty into a scaled, cross-platform brand with multiple revenue streams. Experimentation Audience Iterations for Multiple BuzzFeed & Social Media Tasty Facebook (1) Formats Applied Expansion Expansion & Monetization
Slide 20: Differentiated approach to cross-platform content creation and distribution.
BuzzFeed, Inc. Differentiated approach to cross-platform content creation and distribution. Data-driven approach is Reaching our audiences repeatable & scalable wherever they are Data-driven business model enables massive audience reach and establishes BuzzFeed, Inc. as a one-stop shop for advertise
Slide 21: Emerging businesses.
BuzzFeed, Inc. Emerging businesses. Extending our core business model with a continued focus on revenue diversification. Commerce BuzzFeed Studios • A social-first approach to developing trusted shopping • We are capitalizing on unprecedented demand for premium content created by our editorial team
Slide 22: Our Track Record as an Industry-Leading Consolidation Platform
Our Track Record as an Industry-Leading Consolidation Platform
Slide 23: Completed acquisition of HuffPost.
BuzzFeed, Inc. Completed acquisition of HuffPost. Immediate Value Acquisition Rationale Highlights Creation ● Universally known brand A Leading News Outlet Rapidly integrated into with cross-platform appeal & for Gen Z and cross-platform influence Millennials(1) distribution network ● Extends leader
Slide 24: Completed acquisition of Complex Networks.
BuzzFeed, Inc. Completed acquisition of Complex Networks. Acquisition Rationale Highlights Iconic Brands and IP • Expands further into new audiences and verticals with clear Leader in Time Spent category leadership among males 18-34 (1) • Deepens engagement with existing demographic • Cements opport
Slide 25: Long-term value creation.
BuzzFeed, Inc. Long-term value creation. Leading “Media 2.0” platform for the next generation of Internet Globally recognized digital brands with massive, engaged audience Designed to rapidly scale and monetize digital content Demonstrated platform for both growth and industry consolidation Reached
Slide 26: Appendix
Appendix
Slide 27: BuzzFeed, Inc. net income (loss) to adjusted EBITDA reconciliation.
BuzzFeed, Inc. net income (loss) to adjusted EBITDA reconciliation. ($ in millions) FY’19A FY'20A FY'21A Net income (loss)(1) $(37) $11 $26 Income tax provision (benefit) (0) 1 (26) Loss on disposition of subsidiary - 1 1 Interest expense 0 1 3 Interest income (2) (0) (0) Other expense (income), net
Slide 28: Definition of time spent.
BuzzFeed, Inc. Definition of time spent. We define “Time Spent” as the time audiences spend engaging with our content across our owned and operated US sites, as well as YouTube and Apple News in the US, as measured by Comscore and on Facebook, as reported by Facebook. (Excludes platforms for which w
Slide 29: BuzzFeed Inc.
BuzzFeed Inc. BuzzFeed LIFESTYLE BuzzFeed News ENTERTAINMENT BRANDS COMPLEX THUFFPOSTI