NBCUniversal is said to be doubling its investment in BuzzFeed—Recode reported today—pumping another $200 million into the digital media powerhouse. NBCU, which is owned by Comcast, invested $200 million in BuzzFeed last year in a deal that valued the viral news site at $1.5 billion. At the time, analysts told me the deal made more sense than it might seem given NBCU’s huge news interests and hunger to reach a younger demographic.
Still, digital media has had a tough year, and BuzzFeed gained some bad press in April after a Financial Times report that said it halved its 2016 revenue goals (a report BuzzFeed disputed). More recently, the company has redoubled its focus on video.