BuzzFeed is going to expand its video operations with an exclusive YouTube channel in partnership with CNN and the video sharing site.
The site announced that Ze Frank, BuzzFeed’s Executive Vice President of Video, is leading the operation which will be built using the same techniques that have made BuzzFeed a destination on the web.
“There has been a massive cultural shift in how people - particularly young people - consume news and entertainment and Ze and his team are tapping into the next generation of video production and consumption,” Jon Steinberg, BuzzFeed’s President and COO, said in a statement. “Over 70% of BuzzFeed’s traffic is social, almost half is mobile, and we are seeing these huge shifts earlier than others because the majority of our readers are 18-34. We are thrilled to partner with YouTube to bring a new generation of video content to a BuzzFeed audience that lives on social media and mobile phones.”
The first major project under the new initiative is a channel created with CNN called “CNN BuzzFeed.” In its first video, the organizations looked at some of the best rescue moments aired live on CNN.
New content will be created at a new, dedicated production studio in Los Angeles. The site’s homepage will have a prominent section for the video.
Financial terms weren’t released, but Steinberg told The Wall Street Journal that BuzzFeed will invest a “eight-digit sum” over two years into the venture.