Buzzfeed's 'Launch' is a new service which aims to partner with upcoming brands, helping to promote and sell its products.
The digital media company has already experimented with the making of its own branded products, such as Buzzfeed wine and cookbooks, however this new venture marks a first for the millennial-minded business. The company's new service plans to partner with four startups a year, creating and curating custom advertising, which will be promoted on Buzzfeed's main page.
Each quarter, Buzzfeed will accept submissions from companies looking to promote its product through the site, and in exchange will receive a cut of the royalties. With Launch, companies are provided with the opportunity to "access the full scale of our audience without upfront costs."
Start-Up Advertising Partnerships
Buzzfeed's 'Launch' Plans to Partner with Four Start-ups a Year
Trend Themes
1. Start-up Advertising - Launch by Buzzfeed offers a platform for upcoming brands to create custom advertising and partner with the media company.
2. Branded Products - Buzzfeed's previous success in creating its own branded products demonstrates the potential for startups to leverage a loyal audience through Launch.
3. Custom Advertising - The ability for startups to curate their own advertising on Buzzfeed's platform provides a disruptive innovation opportunity to challenge traditional advertising models.
Industry Implications
1. Digital Media - Launch by Buzzfeed is a new service within the digital media industry that provides a platform for startups to gain exposure and sell products.
2. Start-up Incubators - Incubators and accelerator programs may consider partnering with Launch by Buzzfeed as a way to provide startups with advertising and promotional opportunities.
3. E-commerce - Through partnering with Launch by Buzzfeed, startups have the opportunity to leverage the platform's audience for e-commerce sales and growth.