Posted on

BuzzFeed Expects to Break Even This Year, Thanks to Heavy Cost Cuts

At the end of a staff-wide video call in early October about improving diversity, BuzzFeed Chief Executive Jonah Peretti revealed some good news: The company is on target to break even this year for the first time since 2014.

What was left unsaid is how BuzzFeed got there. Revenue is expected to come in significantly lower this year than in 2019, according to people familiar with the company’s performance, largely because of severe pressure on the advertising market in the early days of the coronavirus crisis.

But…