Greg Piechota points to the serious issues with the math in this post. You have to unpack all the NYT revenue streams and compare digital ads to digital ads. I don’t know how the analysis in this post is credible if the author doesn’t know something this fundamental about how our industry works.
Moreover, the cost of producing the watermelon video was more than “1 vegetable, 700 rubber-bands, protective gear” — how about the video gear, the editorial and growth team input to stage this high impact stunt, the post production, and the BD with Facebook?
If you want much more detail about the strategic and economic implications of BuzzFeed’s financial whiff, check out BuzzFeed to FeedStock: 2 Milestone Learnings for New Media Pros. I’ve been on the frontlines of this chaotic industry for over 7 years now…and people on the sidelines simply miss a TON of the critical details and nuances.