BuzzFeed bites into the livestream-shopping hype
Future. BuzzFeed is diving into the world of live-stream shopping, following every social platform and a slew of startups. But publishers like BuzzFeed may be perfectly positioned to succeed in the space because of their ability to provide research, testimonials, and other media around products they want to sell on their own platforms.
All set up
BuzzFeed is feeling the buzz around live-stream shopping.
- As the publisher looks to scale in the midst of its plan to go public via a SPAC, it’s pinpointed livestream-shopping as an avenue of growth.
- And it’s perfectly positioned to be successful: it has an affiliate commerce business, a product licensing business, and a video production studio.
- Since the top of the year, BuzzFeed has hosted over 50 live streams that have lasted between one and three hours on Amazon Live.
- The company has so far found that 90 minutes is the sweet spot, according to Nilla Ali, BuzzFeed’s SVP of commerce.
This past Amazon Prime Day, BuzzFeed hosted a 16-hour-long livestream, which brought in over 1 million views (including Facebook Live views). The publisher didn’t disclose how many sales were made that day, but apparently it was enough to “double down” on the sector.
So what does the future of BuzzFeed live-stream shopping look like?
- One day building its own platform so it doesn’t have to rely on platforms like Amazon or Facebook.
- Working with homegrown talent and influencers to create a mix of original content and live shopping.
- Working with Instagram and TikTok influencers to further drive traffic.
Additionally, creating a “must buy now” atmosphere around product drops is also on the company’s radar — a perfect fit for its recent acquisition of Complex Networks.