BuzzFeed sells 'Hot Ones' for $82M

Been watching this for a little and it finally went through. BuzzFeed sold “Hot Ones” for $82.5M to refocus on AI innovation (whatever this means) and reduce debt - 100mm+ they were in. This was really their biggest rev driver so I’m curious what pivot they are trying to make.

HOT ONES - an IP from a media owner! Sold! For $82.5m ?? This is huge! They will now operate as an independent multi-platform media company and diversify their revenue further through new products and services. How did this happen you ask? In 2015, Complex made a bold pivot, diversifying their core business. Their commercially savvy leaders (you know who you are! - I benefitted from working alongside them for just over a year) recognised the potential of video and developing passive revenue streams alongside their core business —all while keeping their target audience and viewer DNA at the core. Why could they pull this off? ?? Active audience: Ready to promote to, with media plans showing reach from day one. ?? Talent relationships: Built through their core business. ?? Heritage credibility: A trusted name with cultural weight. ?? Core client base: Providing instant opportunities for brand partnerships and sponsorships. ?? IP diversification plan: Focused on product development. ?? Low-cost production: Driving profitability from the start. These strategic pivots led to high returns, though it wasn’t without its challenges. Bravo to the team that enhanced their brand and seized this growing opportunity! What’s the takeaway? If you have access to an audience, there’s gold in the hills. Complex, First We Feast & Buzzfeed proved that through the sale. ?? I specialise in helping companies unlock multi-million-dollar revenue streams through media and IP development.

A $82.5M bet on hot sauce and celebrity interviews? While everyone's talking about the hot sauce, I'm following the money. First We Feast's $82.5M sale reveals 3 game-changing trends in digital media that no one's discussing... ?? Here's what caught my eye??: ??This deal represents a significant shift in digital media economics. While BuzzFeed acquired Complex Networks (including First We Feast) for $294M in 2021, they're now divesting pieces at different valuations. The ROI math here tells an interesting story about asset valuation in today's digital landscape. ?? The buyer consortium structure is brilliant - combining creator equity (Sean Evans, Chris Schonberger) with strategic media players (Crooked Media, Mythical) and institutional capital (Soros Fund). This hybrid ownership model could be the future template for creator-driven media properties. ?? Looking at the numbers: 14M subscribers, 4B views, and a thriving D2C hot sauce business showcase how content IP can drive multi-channel revenue streams. The planned expansion into Netflix live shows signals untapped potential in format licensing. For BuzzFeed, this move reduces debt to $30M while pivoting toward higher-margin, tech-enabled revenue streams with a focus on using AI-powered experiences. What's your take on creator-led media valuations? Are we seeing the emergence of a new media ownership playbook? #DigitalMedia #BusinessStrategy #MediaAnalytics #ContentMonetization

BuzzFeed has sold “First We Feast,” the company behind “Hot Ones,” for over $82 million, with host Sean Evans among the buyers, providing a crucial cash boost as the company tackles its debt. CEO Jonah Peretti says the sale will help BuzzFeed focus on becoming a media leader in the A.I. revolution. Emma W. Thorne #firstwefeast #buzzfeed #foodnews

New: BuzzFeed sold off First We Feast Thursday for $82.5 million, effectively solving its short-term debt crunch. But the spin-off still leaves the company facing an uncertain future. What should it do next? Sell HuffPost and go private, experts say. Thanks to Robert Berstein, Sam Thompson, and Brian Morrissey, among others, for the insights. My latest for ADWEEK: https://lnkd.in/e68CvwqE

Woah. YouTube Show 'HOT ONES' has been sold for $82.5M Things you should know: - Buzzfeed bought Complex (including Hot Ones) in 2021 for $294 Million - Buzzfeed sold Complex earlier this year for $180.6 Million - Now they're selling Hot Ones for $82.5M They're raising money to pay down debt -- a sign of capitulation? Buzzfeed has $120M in debt and this reduces it by $88.8 Million Investors include: - First We Feast founder Christopher Schonberger - 'HOT ONES' host Sean Evans - Rhett & Link's Mythical Entertainment - and more This is a major win for the Creator Economy as the 2 founders retain a stake in the independent company :) #YouTube #Marketing #SocialMedia

Feels like good hands for Hot Ones, a win for our industry and a win for Rhett & Link's Mythical Entertainment. Curious to hear everyone's thoughts here

BIG news in the world of brand-building: Looks like a sweet deal has been reached to sell First We Feast, the studio behind the wildly popular Hot Ones, for an impressive $82.5 million in cash! ???? Hot Ones isn’t just a show—it’s a masterclass in brand synergy. Starting as a YouTube talk show that paired spicy wings with celebrity interviews, it evolved into a cultural phenomenon. By expanding into hot sauce lines, branded merchandise, and subscription-based offerings, Hot Ones demonstrated how to maximize brand impact across a synergy map: 1. Content: Unforgettable celebrity moments that resonate across social platforms. IYKYK! 2. Products: A line of hot sauces that fans can taste (and feel the burn!) themselves. 3. Experiences: Subscriptions and events that bring the heat directly to your doorstep. This strategy didn’t just build a loyal fanbase—it created a 360-degree brand ecosystem that generated massive cultural and financial value. As marketers, creators, and innovators, there’s so much to learn here: when you find your unique niche, amplify it, diversify revenue streams, and deliver an experience that connects emotionally with your audience. Hot Ones shows how brands can grow into movements. #KarimLateef #MarketingInnovator #BrandBuilder #BrandSynergy

#HotOnes joins the independent club! It's undeniable the success and reach that creator Chris Schonberger and Sean Evans struck hot-gold with their "spicy" interview show. But the success of the brand goes far beyond it's guests and the spice-gauntlet gimmick. Hot Ones is another example of online creators maximizing engagement by creating genuine moments and putting real thought into the content. The show continues to grow and reach massive audiences after nearly 300 episodes by guaranteeing spicy wings, great guests, and some sincerely interesting questions every time! Excited to see the brand continue under this new independent banner.

I absolutely love this show. Anytime there's a new episode it is appointment viewing. So glad that it's going to continue.