Social news site BuzzFeed announced its partnership with cable network heavyweight CNN on Tuesday. “CNN BuzzFeed,” the new entertainment and news video channel on YouTube, will feature archival and current video content designed to be shared across social media networks.
“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,” said Jon Steinberg, BuzzFeed’s president and chief operating officer, in a press statement.
Aimed at millennials, the video news portal will blend BuzzFeed’s unique editorial voice and CNN’s traditional reporting style to create three videos a week that focus on serious news events. Partnering with a distinguished journalism brand like CNN gives viral video destination and meme aggregator BuzzFeed more credibility, while CNN gains access to BuzzFeed’s younger audience. The recent partnership is just another step BuzzFeed is taking to establish itself as a viable news source among 18-34 year olds, a sect much younger than the typical television viewer and one highly sought after by advertisers.
Millennial expert and television and radio talk show host Chelsea Krost believes “CNN BuzzFeed” will be a great advertising opportunity for brands targeting this mobile-savvy, video-driven demographic.
“Millennials represent the rise of a socially connected, empowered group of consumers who like to have their voice heard,” said the 22-year-old host and executive producer of The Chelsea Krost Show via email. “If a brand could attract the audience via social media this would only increase their popularity, attract new consumers, and drive up sales.”
The new channel, which will undoubtedly help keep CNN relevant with younger audiences, was launched without the support of advertising partners. Instead, letting editorial content remain uninfluenced. For those unfamiliar with BuzzFeed’s current advertising model, advertisers pay BuzzFeed to create and host branded content intended to be shared across social networking sites like Facebook and Twitter, not through traditional banner ads, according to the Wall Street Journal.
The channel’s first video has over 61,000 views. The video-focused content can also be found on CNN.com.
BuzzFeed will hire 30 people to for the latest initiative with production offices in a newly constructed studio in Los Angeles that will have a coffee shop and store where influencers, thinkers and celebrities will be able create informal videos made for the social web.
The company will reportedly invest a minimum of $10 million in the new venture.