BuzzFeed will collaborate with the owner of NBC and Universal Studios on production and social distribution for NBCUniversal’s Content Studio, which delivers branded video content to advertisers.
Meanwhile, NBCUniversal will represent BuzzFeed’s inventory to advertisers and the two companies said they will work together to create new digital consumer experiences for NBCUniversal premium content.
The investment has doubled after NBCUniversal put $200m into the ten-year-old news and entertainment service last August.
NBCUniversal and BuzzFeed have already partnered on projects such as the 2016 Rio Olympics on Snapchat, where they jointly sold advertising deals across linear and digital, and content partnerships like the Tasty, BuzzFeed’s online food video channel, on NBC News’ Today show.
"Over the past year, BuzzFeed has proven to be a valuable partner across our business. From the Olympics to the record-breaking launch of Secret Life of Pets, BuzzFeed has helped us engage millennial audiences with our content and extend the reach of our clients’ campaigns to new platforms," said Maggie Suniewick, president of NBCUniversal digital enterprises. "We are looking forward to using the power of our brands to collaborate in more innovative ways that drive value for both companies."
The move is a recognition of big media investing in digital startups, after Disney doubled its stake in Vice Media to $400m last year. NBCUniversal is owned by Comcast, the biggest cable provider in the US.
Jonah Peretti, the chief executive and founder of BuzzFeed, added: "NBCUniversal has been a tremendous partner this past year and we can’t wait to do more with them. Our collaboration has allowed us to focus on our respective strengths, learn from each other, and serve our combined audience better with compelling news, entertainment, and advertising offerings that neither company could do on our own.
"The investment allows us to remain a fully independent company but have access to and resources from the strongest and best media company there is."
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