Date
27 July 2017
BuzzFeed, which has been making popular online  videos, says it may create TV shows with Universal Studios. Photo: BuzzFeed
BuzzFeed, which has been making popular online videos, says it may create TV shows with Universal Studios. Photo: BuzzFeed

New-media firms shift attention to TV

New-media firms like BuzzFeed, Vice Media and Huffington Post are venturing aggressively into a decidedly old-media stronghold: television.

Most are tying up with traditional media firms, The Wall Street Journal reports.

BuzzFeed says it may create TV shows with Comcast Corp.’s Universal Studios. Vice Media is in talks to take control of a cable channel from A+E Networks.

Complex, a network of websites focused on fashion, music and pop culture, says it may funnel video content into Hearst Corp.’s TV properties after receiving an investment from the firm.

The TV business is in turmoil, as networks worry about the loss of young audiences and the fragmentation of viewing from having so much original content on so many cable channels.

But TV offers new — and more predictable — revenue streams for digital-media upstarts that until now have been largely dependent on advertising.

The owner of a TV show gets the right to license it in many ways, to TV networks, mobile-phone companies and international media players.

TV ad spending is forecast at US$70 billion this year, compared with US$7.8 billion for online video, research firm eMarketer estimates.

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