BuzzFeed’s acquisition of First We Feast and integration of AI technology marks a new era in content creation, but raises questions about the future of human-generated content.
BuzzFeed‘s Shift Towards AI-Generated Content
Can’t Take the Spice
The sale of First We Feast, the company behind the popular interview show “Hot Ones,” has sparked controversy as embattled media company BuzzFeed continues its pivot towards AI-generated content. The deal, worth $82.5 million, will help reduce BuzzFeed’s debt load from almost $124 million.
A New Era for BuzzFeed
BuzzFeed CEO Jonah Peretti sees this sale as an opportunity to double down on the company’s “pivot to AI” strategy. He believes that AI technology will enable BuzzFeed to overcome its years-long struggle and become a media company fully positioned to benefit from the ongoing AI revolution. In the coming years, BuzzFeed plans to invest in AI-powered interactive experiences and deliver content for its loyal audience and business partners.
The Road to AI
However, whether relying on automated content will pay off remains uncertain. After a disastrous 2023, BuzzFeed’s stock has been recovering at a steady pace this year. But the latest announcement sent the stock plummeting by over 36 percent in just five days. The company’s efforts to pivot towards AI have not instilled much confidence.
In March 2023, it was found that BuzzFeed was using AI to produce repetitive and poorly-written travel guides. A recipe-generating AI, dubbed Botatouille, also turned out to be a complete disaster. In April 2023, the company shut down its award-winning news division, causing its share price to plummet below $1. The Securities Exchange Commission even warned that BuzzFeed could be delisted from the NASDAQ if it couldn’t recover.
The Future of Content
Peretti has previously promised investors that generative AI will replace most static content, and audiences will expect all content to be curated and dynamic with embedded intelligence. However, his latest decision to sell off a highly popular show has led to mockery online. Many have questioned the logic behind relying on AI-generated content when human personalities can create something worth millions.
The sale of First We Feast is just another step in BuzzFeed’s efforts to transform itself into an AI-powered media company. Whether this strategy will ultimately pay off remains to be seen.
- futurism.com | BuzzFeed Sells Hot Ones as It Pivots to AI Generated Content
