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BUZZFEED, INC. REPORTS Q2 2026 FINANCIAL RESULTS

NEW YORK – August 4, 2026 – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) today announced its financial results for the quarter ended June 30, 2026.

“BuzzFeed, Tasty, and HuffPost are strong, recognizable brands that have loyal users, but we made it clear on our last earnings call that these businesses were carrying an unsustainable cost structure, and a restructure was immediately needed,” said Byron Allen, BuzzFeed Chairman and CEO. “As such, we recently took steps to significantly reduce costs to better align our cost base with the underlying business, giving us the foundation to grow. I’m also excited to share that BuzzFeed has entered into a sales representation agreement with Allen Media Group (“AMG”), engaging AMG’s sales organization to expand monetization of BuzzFeed’s advertising inventory and give brands and agencies another point of entry to build campaigns spanning premium television, streaming, local broadcast, and digital-first media. I’m energized by what we’re building at BuzzFeed, and by the path we’re now on towards sustainable profitability, positive cash flow, and disciplined investment in our highest-growth priorities.”

“The changes we’ve made create the opportunity to build BuzzFeed differently,” said Jonah Peretti, President of BuzzFeed AI. “We’re shifting from a traditional publishing model to a true platform – one where our community, creators, and partners actively fuel our content ecosystem. That means a more flexible operating model in editorial, and new AI-supported tools in tech that keep human creativity at the core. This operational discipline gives us runway to innovate, transform, and build our next chapter.”

Second Quarter 2026 Financial Results and Operational Highlights

BuzzFeed delivered Q2 2026 revenues of $36.3 million, declining 21.8% compared to the second quarter of 2025

●Advertising revenue declined 23.4% year-over-year to $17.3 million.

●Content revenue declined 6.5% year-over-year to $10.0 million.

●Commerce and other revenue declined 31.4% year-over-year to $9.0 million.

Net loss was $11.8 million, compared to a net loss of $10.6 million in Q2 2025.

Adjusted EBITDA1 was negative $1.7 million for Q2 2026, compared to positive $2.0 million in Q2 2025.

In Q2 2026, audience Time Spent2 with our content totaled 62.3 million hours, reflecting an approximately 10.8% decline compared to Q2 2025.

Business and Content Highlights

●BuzzFeed, the Company’s largest brand, maintained its position as the #1 brand in total U.S. time spent among any single media brand in its competitive set3, reaching 36.0 million hours in Q2 2026. This significantly outpaced second-place People at 26.4 million hours.

●HuffPost recorded 18.0 million hours in total U.S. time spent in Q2 2026, up 16% from last quarter, significantly outperforming competitors such as Vogue.com (4.1 million hours), The New Yorker (3.6 million hours), New York Magazine (2.6 million hours), Vanity Fair (1.9 million hours), Vox.com (0.9 million hours), and Bustle.com (0.5 million hours).

1As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP financial results. Certain figures throughout this document may not foot due to rounding.

2 Refer to the definition of “Time Spent” below.

3 Competitive set includes People.com brand, Condé Nast Digital Group, Vox Media Group, Vogue.com, and Bustle.com.

●Direct visits and internal web and app referrals have taken up 65% of the U.S. traffic on BuzzFeed’s owned and operated properties, an increase from 61% from the prior quarter, reducing the brand’s reliance on distributed platforms and increasing its resilience to platform algorithm changes.

First Half 2026 Results

●Total revenue declined 17.7% to $67.9 million.

●Net loss increased 16.8% to $27.0 million.

●Adjusted EBITDA loss increased by $5.6 million to negative $9.5 million.

Full Year 2026 Financial Outlook

Given the transformation underway, we are focused on full-year operational targets rather than quarterly guidance. As the restructuring and platform transition progresses, we expect to provide investors with a more complete financial outlook.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our second quarter 2026 results today, August 4, at 5 PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News and Events, and parties interested in participating must register in advance at the same location. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call.

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BUZZFEED, INC. ANNOUNCES PROPOSED MAJORITY STAKE INVESTMENT BY BYRON ALLEN’S FAMILY OFFICE

Byron Allen Named Incoming Chairman and Chief Executive Officer of BuzzFeed, Inc.

Jonah Peretti to Transition to President of BuzzFeed AI

Company Also Reports Q1 2026 Financial Results

NEW YORK – May 11, 2026 – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) today announced the Company has entered into a transaction agreement with Allen Family Digital, LLC, an affiliate of Byron Allen’s family office, under which BuzzFeed, Inc. will accept a majority investment from Allen Family Digital, LLC. Founder and CEO Jonah Peretti will be succeeded by Byron Allen, who will assume the role of Chairman and Chief Executive Officer upon closing, and Peretti will transition to a newly created role as President of BuzzFeed AI.

Under the terms of the agreement, Allen Family Digital will acquire 40 million shares of BuzzFeed, Inc. at a price of $3.00 per share for a total purchase price of $120 million. Upon closing, Allen Family Digital will own approximately 52% of the Company’s outstanding shares. The purchase price will be funded with $20 million in cash at closing, and a $100 million promissory note due five years from closing, accruing interest at 5% annually.

The transaction is currently expected to close by the end of May 2026, subject to customary closing conditions.

The Company also reported financial results for the first quarter ended March 31, 2026.

“Byron Allen has built one of the world’s largest media companies and is one of the most accomplished media entrepreneurs in the industry, having spent 30-plus years transforming distribution infrastructure, identifying strategic assets, and scaling them into something much greater,” said Jonah Peretti, BuzzFeed Founder and CEO. “Byron’s vision, operational experience, and long-term commitment to premium content makes him exceptionally well-positioned to lead BuzzFeed and HuffPost into our next phase of growth. And personally, I’m thrilled Byron is taking over ‘The Late Show With Stephen Colbert’s’ time slot, and highly confident that his relationships with talent will bring some incredible stars to the BuzzFeed platform.”

“To prepare for his arrival, we are planning to make significant changes, including cost reductions and setting up BuzzFeed Studios (including vertical micro-dramas, animation, digital video, and premium studio including feature films) and Tasty as a new independent entity. This investment in our business and Byron’s management roles will provide liquidity and operational focus to BuzzFeed, Inc.,” Peretti continued.

“I will transition to a newly created role as President of BuzzFeed AI. After 20 years as CEO of BuzzFeed, I’m excited to switch my focus to a more hands-on role developing products and technology that are only possible because of recent advances in AI. I’m convinced that AI will fundamentally transform the media industry and empower creative people to build in new ways, and I believe the opportunity is enormous,” Peretti added.

“Jonah is a great visionary and has done a phenomenal job. BuzzFeed and HuffPost have become two iconic global digital media brands with powerful audience reach and strong cultural importance,” said Byron Allen, incoming Chairman and CEO of BuzzFeed. “Our vision is to build on the iconic foundation of BuzzFeed and HuffPost by expanding into free-streaming video, audio and user-generated content. As of this moment, with the power of AI, BuzzFeed is officially chasing YouTube to become another premiere free video streaming service.”

Jonah Peretti co-founded BuzzFeed in 2006 and has served as the Company’s Chief Executive Officer since its founding. Under his leadership, BuzzFeed became one of the defining digital media brands of a generation, pioneering social distribution, viral content, and AI-assisted publishing. In his new role as President of BuzzFeed AI, Peretti will bring his strategic focus to applied AI research, product innovation, and the development of new technology-driven media formats.

Byron Allen is the Founder, Chairman and CEO of Allen Media Group which he founded in 1993 and is headquartered in Los Angeles. Allen owns 13 ABC-CBS-NBC network affiliate broadcast television stations in 11 U.S. markets and ten 24-hour HD television networks serving nearly 275 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, JUSTICECENTRAL.TV, THEGRIO TELEVISION NETWORK, and HBCU GO. Allen also owns the digital streaming platforms HBCU GO, SPORTS.TV, LOCAL NOW, and THE WEATHER CHANNEL STREAMING APP. Allen owns a two-hour nightly comedy block on CBS Network and also produces, distributes, and sells advertising for 74 television programs, making him one of the largest independent producers / distributors of first-run syndicated television programming for broadcast television stations, cable

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BUZZFEED, INC. REPORTS Q4 AND FULL YEAR 2025 RESULTS

NEW YORK – (March 12, 2026) – BuzzFeed, Inc.’s (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) fourth quarter and full year (ended December 31, 2025) financial results were in line with its outlook shared in November. In 2025, BuzzFeed grew programmatic advertising by 7% year over year, expanded its studio business with three feature films, and advanced product innovation in key areas.

“We believe there is a gap between the value of our individual assets and our market capitalization that suggests significant unrecognized upside,” said Jonah Peretti, BuzzFeed Founder & CEO. “In 2026, our focus is demonstrating the value of our brands, Studio IP, and new AI apps to the market, and we’re actively exploring strategic options to close that value gap.”

“We’re engaged in strategic conversations to unlock the value Jonah described and remedy the liquidity challenges we currently face, which are described in detail below,” said Matt Omer, BuzzFeed CFO. “Three years ago we had over $180 million in debt —we’ve reduced that by more than 65%. While we’ve significantly reduced operating costs and real estate obligations, we’re still facing legacy commitments that are burdening the business. We’re exploring strategic options to complete the work we started years ago and position the Company to operate profitably on a sustainable basis.”

2025 Full Year Financial and Operational Highlights for Continuing Operations1

●BuzzFeed delivered Full Year 2025 revenues of $185.3 million, declining 2.4% compared to 2024.

○Advertising revenue declined 2.8% year-over-year to $91.7 million.

●Programmatic advertising grew 7.4% year-over-year to $69.6 million, demonstrating strength in scalable, tech-enabled advertising.

○Content revenue increased 9.4% year-over-year to $37.0 million.

●Studio revenue nearly tripled to $16.1 million reflecting the delivery of three feature films during the year plus contributions from micro-dramas.

○Commerce and other revenue declined 8.3% year-over-year to $56.5 million.

●Affiliate commerce declined 6.9% to $55.5 million, primarily reflecting changes in supplemental bonus structures from our partners.

●Net loss from continuing operations was $57.3 million, compared to a net loss from continuing operations of $34.0 million in 2024, which reflects a $30.2 million non-cash goodwill impairment charge driven by a sustained decline in share price.

●Adjusted EBITDA2 improved 61.4% to $8.8 million positive Adjusted EBITDA for the full year, an increase of $3.3 million from 2024.

●In 2025, audience Time Spent3 with our content totaled 276.5 million hours, reflecting a 7.2% decline compared to 2024 —which included elevated engagement of the presidential election cycle.

Fourth Quarter 2025 Financial and Operational Highlights for Continuing Operations

●BuzzFeed delivered Q4 revenues of $56.5 million, increasing 0.6% compared to the fourth quarter of 2024.

○Advertising revenue increased 0.5% to $25.6 million.

1 The historical financial results of Complex Networks and First We Feast (both sold in 2024) have been reflected as discontinued operations in our consolidated financial statements. Amounts presented throughout this press release are on a continuing operations basis.

2 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

3 Refer to the definition of “Time Spent” below.

●Programmatic advertising increased 2.1% year-over-year to $18.4 million.

○Content revenue increased 55.7% year-over-year to $14.7 million.

●Studio revenue grew to $7.3 million, reflecting the recognition of two feature films during the period plus contributions from micro-dramas.

○Commerce and other revenue decreased 23.7% year-over-year to $16.3 million.

●Affiliate commerce declined 22.7% to $16.1 million, primarily driven by a decline in supplemental bonuses from affiliate partners as they refine commission structures.

●Net loss from continuing operations was $26.8 million, compared to net loss from continuing operations of $4.1 million in the fourth quarter of 2024, reflecting a $30.2 million non-cash goodwill impairment charge.

●Adjusted EBITDA for Q4 2025 was $12.0 million, compared to Adjusted EBITDA of $10.9 million in the fourth quarter of 2024.

●Time Spent in Q4 2025 declined approximately 11.3% year-over-year to 70.3 million hours. This was largely expected as Q4 2024 saw elevated engagement during the presidential election cycle.

Business and Content Highlights

●BuzzFeed, the Company’s largest brand, maintained its position as the #1 brand in total U.S. time spent in its competitive set4, reaching 42.4 million hours in Q4 2025 — up 14% from Q3, and 9% year-over-year. This significantly outpaced second

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BUZZFEED, INC. REPORTS Q3 2025 RESULTS

NEW YORK – (November 6, 2025) – BuzzFeed, Inc. (“BuzzFeed,” the “Company,” “we,” or “our”) (Nasdaq: BZFD) today announced its financial results for the quarter ended September 30, 2025.

“Q3 was a challenging quarter, but we continued to advance our core strategy,” said Jonah Peretti, BuzzFeed Founder and CEO. “We’re growing direct visits and deepening our relationship with Gen Z and Millennial audiences, which gives us more control and more room to innovate. I’m spending more of my time in the lab as we build new products for this direct audience, and look forward to sharing more next quarter.”

“As we move into Q4, we expect a seasonal step-up from Q3. We’re focused on capturing that demand and managing the business carefully to finish the year in a stable position,” said Matt Omer, BuzzFeed CFO.

Third Quarter 2025 Financial and Operational Highlights for Continuing Operations1

●Total revenue was $46.3 million, compared to $55.6 million in Q3 2024, a decrease of 17% year-over-year.

○Advertising revenue declined to $22.2 million, compared to $24.8 million in Q3 2024, reflecting an 11% drop.

○Content revenue declined to $7.2 million, compared to $10.7 million in Q3 2024, reflecting a 33% decrease.

○Commerce and other revenue declined to $17.0 million, compared to $20.1 million in Q3 2024, reflecting a 15% drop.

●Net loss from continuing operations was $7.4 million, compared to net income from continuing operations of $2.5 million in Q3 2024.

●Adjusted EBITDA2 was $0.8 million, compared to $8.1 million in Q3 2024.

●Total U.S. Time Spent3 across all BuzzFeed, Inc. properties was 68.5 million hours, compared to 80.3 million hours in Q3 2024. The decline was largely expected as Q3 2024 saw elevated news consumption during the presidential election cycle.

Business and Content Highlights

●Traffic Diversification:

○63% of BuzzFeed.com traffic now comes from direct visits, internal referrals, and app activity, up from 61% in Q2, reinforcing reduced platform dependency.

○HuffPost homepage pageviews and referrals now account for 75% of total HuffPost.com traffic, up from 70% a year ago.

●Leader in Audience & Time Spent:

○BuzzFeed, Inc. remained #1 among Gen Z and Millennials in its competitive set4 with 10.7 million hours of Time Spent with this audience in Q3, up 25% from Q2.

○BuzzFeed.com remained the #1 brand in the competitive set in Q3, generating 37.2 million hours of US Time Spent, growing 4% year-over-year.

1 The historical financial results of Complex Networks and First We Feast have been reflected as discontinued operations in our condensed consolidated financial statements. Amounts presented throughout this earnings release are on a continuing operations basis.

2 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP financial results.

3 Refer to the definition of “Time Spent” below.

4 Competitive set includes Condé Nast Digital, Vox Media, People, Inc., and Bustle Digital Group.

○Among Gen Z and Millennial audiences, the flagship BuzzFeed brand was up 6% from Q2.

Updated Full Year 2025 Financial Outlook

●Revenue expected in the range of $185 million to $195 million.

●Adjusted EBITDA expected in the range of break-even to $10 million.

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

Refer to “Non-GAAP Financial Measures” below for a description of how Adjusted EBITDA is calculated. While Adjusted EBITDA is a non-GAAP financial measure, we have not provided guidance for the most directly comparable GAAP financial measure — net income (loss) from continuing operations — due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary to forecast such a measure. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our third quarter 2025 results today, November 6, at 5:00 PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News and Events, and parties interested in participating must register at the same location. While it is not required, it is recommended you join 5 minutes prior to the event start time. A replay of the call will be made available at the same URL.

We have used, and intend to continue to use, the Investor Relations section of our website at investors.buzzfeed.com as a means of disclosing material nonpublic information and for

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BUZZFEED, INC. REPORTS Q2 2025 RESULTS AND DELIVERS STRONG REVENUE GROWTH

Company Advances Strategic Priorities with Direct Audience Growth, AI Development, and Increased Platform Independence

NEW YORK – (August 7, 2025) – BuzzFeed, Inc. (“BuzzFeed,” the “Company,” “we,” or “our”) (Nasdaq: BZFD) today announced its financial results for the quarter ended June 30, 2025. The Company delivered strong revenue growth while continuing to execute on its strategy to reduce platform dependencies, expand scalable revenue streams, and invest in future-oriented initiatives.

“I’m proud of what our team was able to accomplish in Q2,” said Jonah Peretti, BuzzFeed Founder and CEO. “We returned to growth, driven by double digit gains in both commerce and programmatic advertising, our most scalable and tech enabled revenue lines. Our latest feature film hit #1 on Hulu in June. And we’ve begun beta testing on BF Island, our AI-native social media app. We’ve transformed and diversified our business and it is gratifying to see these efforts are continuing to bear fruit.”

“This quarter reflects continued momentum in our transformation efforts,” said Matt Omer, BuzzFeed CFO. “We’re seeing strong performance in programmatic advertising and affiliate commerce — two of our most scalable and reliable revenue lines. Combined with a more efficient cost structure and growing direct audience engagement, these results reinforce the durability of our model and our long-term strategy.”

Second Quarter 2025 Financial and Operational Highlights for Continuing Operations1

●Total revenue was $46.4 million, compared to $41.1 million in Q2 2024, an increase of 13% year-over-year.

○Advertising revenue slightly declined to $22.6 million, compared to $23.2 million in Q2 2024, reflecting a 3% drop.

●This was driven by a $2.3 million, or 31%, decrease in direct-sold advertising revenue, reflecting market softness and the Company’s strategic focus on programmatic.

●Programmatic advertising grew 11% year-over-year to $17.4 million, demonstrating continued improvements in yield and targeting.

○Content revenue increased 53% to $10.7 million, compared to $7.0 million in Q2 2024.

●Studio revenue increased nearly fourfold, up $4.7 million year-over-year, primarily driven by the delivery of a feature film project.

●This was partially offset by a $1.0 million, or 17%, decline in direct-sold content.

○Commerce and other revenue rose 20% to $13.1 million, compared to $10.9 million in Q2 2024.

●Organic affiliate commerce grew 23% year-over-year, adding $12.8 million, supported by strong audience demand and an expanding partner base.

●Net loss from continuing operations was $10.6 million, compared to $5.4 million in Q2 2024, primarily driven by a non-recurring charge on loss on extinguishment of convertible notes.

●Adjusted EBITDA2 improved to $2.0 million, compared to $0.8 million in Q2 2024, which reflects a one-time $2.4 million reversal that positively impacted quarterly results and will not recur.

1 The historical financial results of Complex Networks and First We Feast have been reflected as discontinued operations in our condensed consolidated financial statements. Amounts presented throughout this earnings release are on a continuing operations basis.

2 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP financial results.

●Total U.S. Time Spent3 across BuzzFeed’s properties was 69.9 million hours, compared to 71.0 million hours in Q2 2024, with a 3% increase relative to Q1 2025, making BuzzFeed the only company in its competitive set to grow Time Spent this period.

Business and Content Highlights

●Traffic diversification:

○61% of BuzzFeed owned and operated traffic now comes from direct visits, internal referrals, and app activity, reducing dependence on external algorithms and platforms. HuffPost’s homepage referrals grew 12% year-over-year and now account for three quarters of its total pageviews.

●Enhanced audience engagement:

○Nearly half of BuzzFeed and HuffPost’s daily users return more than once a week, with logged-in users on BuzzFeed.com tripling over the past two years.

●Leader in Time Spent:

○BuzzFeed, Inc. maintained its position with 69.9 million U.S. hours of Time Spent in Q2, with BuzzFeed.com leading all individual competitors at 36.4 million hours and HuffPost recording 20.7 million hours.

●High-margin revenue stream growth:

○Both programmatic advertising and organic affiliate commerce delivered year-over-year growth for five consecutive quarters.

●Studio business momentum:

○Renewed focus on IP development and long-form content providing protection from algorithmic shifts.

○Our feature film with Lionsgate, “F*** Marry Kill,” topped charts as the #1 movie

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BUZZFEED, INC. REPORTS Q1 2025 RESULTS AND CONTINUES TO ADVANCE HIGH-MARGIN REVENUE LINES AND STRATEGY FOR LONG-TERM GROWTH

Company Taps AI to Amplify Human Creativity, Audience Engagement, and Efficiency Tools Across Publishing Business

NEW YORK – (May 7, 2025) – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) today announced its financial results for the quarter ended March 31, 2025. The Company continued to execute on its strategy to improve profitability, expand scalable, high-margin revenue streams, and invest in future-oriented innovation.

“This quarter reflects the strength of our core publishing business and the momentum we’re building with AI-assisted tools,” said Jonah Peretti, BuzzFeed Founder and CEO. “Editorial output increased this quarter, and a new AI tool we’re piloting improved pageviews per article by an average of 25%. We’re also seeing new user behaviors emerge as audiences engage with AI-powered creation formats on BuzzFeed, and we’re excited to build on that with the development of BF Island.”

“We started 2025 with strong execution and continued margin improvement,” said Matt Omer, BuzzFeed CFO. “Affiliate commerce and programmatic advertising remain our most efficient revenue streams, both growing again this quarter. Importantly, both net loss from continuing operations and Adjusted EBITDA1 improved relative to the year-ago period, above and beyond the cost savings from the Q1 2024 restructuring. We’re confident in our roadmap for disciplined investment in innovation, while strengthening our foundation for long-term, sustainable growth.”

First Quarter 2025 Financial and Operational Highlights for Continuing Operations2

●Total revenue was $36.0 million, compared to $37.0 million in Q1 2024, which includes the expected decline in our lower-margin, direct-sold business.

○Advertising revenue grew to $21.4 million, compared to $20.9 million in Q1 2024.

●This was driven by a $2.5 million increase in programmatic revenue, which offset a $2.1 million decline in direct-sold ads.

○Content revenue declined to $4.4 million, from $6.7 million in Q1 2024.

●This was driven by a $3.2 million decline in direct-sold content deals, partially offset by a $0.9 million increase in studio (reflecting variability based on project timing).

○Commerce and other revenue increased to $10.2 million, compared to $9.3 million in Q1 2024.

●This was supported by a $1.0 million increase in organic affiliate commerce.

●Net loss from continuing operations improved to $12.5 million, from $27.0 million in Q1 2024, largely reflecting benefits from the Company’s 2024 restructuring.

●Adjusted EBITDA loss improved to $5.9 million, from $14.4 million in Q1 2024, a year-over-year improvement of $8.5 million.

●Time Spent3 across BuzzFeed’s properties modestly increased to 67.9 million hours, compared to 67.3 million hours in Q1 2024, demonstrating consistent audience engagement.

1 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP financial results.

2 The historical financial results of Complex Networks and First We Feast have been reflected as discontinued operations in our condensed consolidated financial statements. Amounts presented throughout this earnings release are on a continuing operations basis.

3 Refer to the definition of “Time Spent” below.

○BuzzFeed.com ranks as the #1 individual media brand in the U.S. for time spent — surpassing every individual competitor from any major digital or legacy media group. This holds true for both total Time Spent as well as Time Spent by Gen Z and Millennial audiences.

○BuzzFeed.com reached 32.9 million hours in Q1 2025, a 7% year-over-year increase.

Business and Content Highlights

●Both programmatic advertising and affiliate commerce delivered year-over-year growth for the fourth consecutive quarter.

●Organic affiliate commerce continues to be a growth engine, powered by strong product discovery experiences and contextual integration across BuzzFeed’s owned and operated properties.

●BuzzFeed continues to shift toward direct audience relationships: the majority (62%) of U.S. BuzzFeed.com traffic now comes from direct visits, internal referrals, and app activity — reducing reliance on social platforms and increasing resilience to algorithm changes.

Confirming Full Year 2025 Financial Outlook

●Revenue expected in the range of $195 million to $210 million, representing 3-10% growth year-over-year.

●Adjusted EBITDA expected in the range of $10 million to $20 million, an improvement of approximately $10 million year-over-year at the midpoint.

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for infor

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BUZZFEED, INC. COMPLETES STRATEGIC AND ORGANIZATIONAL CHANGES FOLLOWING A TRANSFORMATIVE 2024

Company Strengthens Balance Sheet, Grows High-Margin Revenue Streams, and Expands AI-Driven Innovation

NEW YORK – (March 13, 2025) – BuzzFeed, Inc.’s (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) fourth quarter and full year (ended December 31, 2024) financial results were in line with its outlook shared in December, demonstrating progress in stabilizing operations and positioning the business for long-term growth. Following a strategic transformation in 2024, BuzzFeed is optimistic about the year ahead and is committed to bettering operational efficiency and improving monetization across the Company’s owned and operated sites and apps.

“BuzzFeed has always been at the forefront of digital media, evolving with industry shifts and embracing new technologies,” said Jonah Peretti, BuzzFeed Founder & CEO. “2024 was a transformational year as we strengthened our fundamentals, streamlined operations, and scaled our high-margin revenue streams. By leveraging AI to optimize our tech and advertising, enhance audience engagement, and explore R&D for BF Island, we have positioned BuzzFeed for long-term success in the AI era.”

As part of this strategy, BuzzFeed recently announced the development of BF Island, a new social platform designed to reimagine how people create, share, and engage with content. This ambitious long-term investment aligns with the Company’s vision of fostering creativity and fun while building a more direct relationship with audiences. The Company plans to begin private beta testing BF Island with users in Q2.

“We’ve significantly reduced our debt and strengthened our balance sheet, putting us in a much stronger financial position heading into 2025,” said Matt Omer, BuzzFeed CFO. “With a leaner, more focused operation, we’re prioritizing high-margin, tech-enabled revenue streams like programmatic advertising, affiliate commerce, and AI-driven innovation. These moves give us the flexibility to invest in long-term growth while driving sustainable profitability.”

2024 Full Year Financial and Operational Highlights for Continuing Operations1

●BuzzFeed delivered Full Year 2024 revenues of $189.9 million, declining 18% compared to 2023

○Advertising revenue declined 17% year-over-year to $94.4 million, reflecting an intentional shift away from lower-margin direct sold advertising.

●Programmatic advertising remained relatively flat year-over-year at $64.9 million.

○Content revenue declined 49% year-over-year to $33.9 million, primarily due to a decrease in direct-sold deals and fewer studio projects.

○Commerce and other revenues grew 23% year-over-year to $61.7 million, driven by strong affiliate commerce performance.

●Affiliate commerce increased 26% year-over-year to $59.6 million.

●Net loss from continuing operations improved to $34.0 million, compared to a net loss from continuing operations of $55.7 million in 2023, a result of successful cost savings and operational efficiencies.

●Adjusted EBITDA2 improved by $17.1 million year-over-year, achieving positive Adjusted EBITDA of $5.5 million for the full year 2024.

1 The historical financial results of Complex Networks and First We Feast have been reflected as discontinued operations in our consolidated financial statements. Amounts presented throughout this press release are on a continuing operations basis.

2 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

●In 2024, audience Time Spent3 with our content totaled 297.9 million hours, reflecting a 3% decline year-over-year, though we continue to outpace the competition.

●BuzzFeed ended the period with cash and cash equivalents of approximately $38.6 million, an increase of $3.0 million compared to 2023.

Fourth Quarter 2024 Financial and Operational Highlights for Continuing Operations

●BuzzFeed delivered Q4 revenues of $56.2 million, declining 20% compared to the fourth quarter of 2023, in line with the Company’s outlook shared in December

○Advertising revenue declined 19% year-over-year to $25.4 million, reflecting a deemphasis of direct sold advertising and into higher-margin programmatic advertising.

●Programmatic advertising remained relatively flat year-over-year at $18.0 million.

○Content revenue declined 59% year-over-year to $9.5 million, driven by a reduction in direct-sold content deals and studio revenue.

○Commerce and other revenues increased 39% year-over-year to $21.3 million, supported by strong affiliate performance.

●Affiliate commerce grew 39% year-over-year to $20.8 million.

●Net loss from continuing operations was $3.8 million, compared to net income from continuing operations of $4.4 million in the fourth

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BUZZFEED, INC. DELIVERS STRONG Q3 FINANCIAL RESULTS

Affiliate Commerce Revenues Grew 53% Year-Over-Year, Including BuzzFeed’s Biggest Prime Day Ever in July

Programmatic Advertising Revenues Grew 9% Year-Over-Year

BuzzFeed, Inc. Led Its Competitive Set In Audience Time Spent, Growing versus Q2 and Last Year to Reach 80 Million Hours, according to Comscore1

NEW YORK – November 12, 2024 – BuzzFeed, Inc. (Nasdaq: BZFD) reported improved year-over-year profitability in the third quarter (ended September 30, 2024) generating net income from continuing operations of $2 million and Adjusted EBITDA2 of $11 million, near the high end of the Company’s outlook shared on August 12, 2024. Third quarter revenues exceeded the Company’s outlook, growing 7% year-over-year, with strong growth in two of BuzzFeed, Inc.’s largest and highest-margin revenue streams - Affiliate Commerce and Programmatic Advertising.

“In Q3, we delivered significant improvements in each of our key operating and financial measures - time spent, revenue, and Adjusted EBITDA - growing each year-over-year and quarter-over-quarter,” said Jonah Peretti, BuzzFeed Founder & CEO.

“Commerce was a particular highlight,” Peretti continued. “We delivered our most successful Prime Day ever in July, with performance that outpaced Amazon’s own Prime Day growth and contributed to Q3 affiliate commerce revenue growth of 53% year-over-year for BuzzFeed.”

“These strong Q3 results underscore the successful execution of our strategy to stabilize the business. Refocusing the business around our most scalable, tech-driven revenue lines has propelled growth in our programmatic and affiliate revenues and positioned us to deliver consistent topline growth and expanded profitability in 2025 and beyond.”

Third Quarter 2024 Financial and Operational Highlights for Continuing Operations (excluding Complex)3

●BuzzFeed4 delivered Q3 revenues of $64.3 million, growing 7% compared to the third quarter of 2023

○Advertising revenue declined 3% year-over-year to $26.1 million

●Programmatic advertising revenue grew 9% year-over-year to $17.3 million

○Content revenue declined 7% year-over-year to $17.4 million

○Commerce and other revenues grew 45% year-over-year to $20.9 million

●Affiliate commerce revenues grew 53% year-over-year to $19.6 million

●Net income from continuing operations was $2.0 million, compared to a net loss from continuing operations of $(12.0) million in the third quarter of 2023, a year-over-year improvement of approximately $14 million

1 Source: Comscore Media Trend, desktop 2+ and mobile 18+, desktop and mobile; September 2024; [Competitive Set: Dotdash Meredith, Conde Nast Digital, Vox Media, People, Bustle Digital Group, Vice Media Group, Hearst]

2 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

3 The Company determined the assets of Complex Networks, excluding the First We Feast brand, met the classification for “held for sale.” Additionally, the Company concluded the disposal, which occurred on February 21, 2024, represented a strategic shift that had a major effect on our operations and financial results. As such, the historical financial results of Complex Networks have been reflected as discontinued operations in our condensed consolidated financial statements. Amounts presented throughout this press release are on a continuing operations basis (i.e., excluding Complex Networks).

4 BuzzFeed, Inc. is herein referred to as “BuzzFeed” or the “Company.”

●Adjusted EBITDA was $10.5 million, compared to Adjusted EBITDA of $0.3 million in the third quarter of 2023, a year-over-year improvement of approximately $10 million

●Time Spent5 increased 2% year-over-year to 80 million hours

Business and Content Highlights

●Q3 audience time spent with our content grew 13% versus Q2 and 2% year-over-year to 80 million hours, outpacing our peers, according to Comscore.

●Our flagship BuzzFeed brand continued to lead the way in time spent among its competitive set, garnering vastly more time spent both overall and among its core demographic of Millennial and Gen Z.

●BuzzFeed, Inc. generated $10.5 million of Adjusted EBITDA in Q3, a nearly four-fold increase versus Q2.

●The Company posted a record Prime Day in July, with strong double-digit growth in revenues year-over-year, outpacing Amazon’s overall Prime Day growth6.

●The BuzzFeed brand continued to make progress in building audience loyalty in Q3, growing both logged-in users and loyal users - those who visit more than once in a 7-day period - versus Q2.

○In fact, in September, the percentage of loyal users reached its highest level in nearly two years.

Today’s call will be focused entirely on our Q3 results. In the coming weeks,

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BUZZFEED, INC. POSTS STRONG Q2 FINANCIAL RESULTS AND EXPECTS CONTINUED IMPROVEMENT IN Q3

Programmatic Advertising Revenues Grew 3% Year-Over-Year

Affiliate Commerce Revenues Grew 9% Year-Over-Year

BuzzFeed, Inc. was the Only Digital Media Company in Competitive Set to Grow Audience Time Spent in Q2 Versus Q1, according to Comscore1

NEW YORK – August 12, 2024 – BuzzFeed, Inc. (Nasdaq: BZFD) reported improved second quarter (ended June 30, 2024) net loss from continuing operations as compared to the prior-year period, and Adjusted EBITDA2 ahead of the Company’s outlook shared on May 13, 2024 and reiterated on July 3, 2024. Second quarter revenues were in line with the Company’s outlook, with year-over-year growth in two of BuzzFeed, Inc.’s largest and highest-margin revenue streams - Programmatic Advertising and Affiliate Commerce.

“Our strong performance in Q2 marks a turning point we’ve been working toward for the past two years,” said Jonah Peretti, BuzzFeed Founder & CEO. “We are beginning to see the benefits of our investment in a differentiated technology platform that allows us to accelerate AI product development, make our sites and apps more interactive and personalized, and increase the amount of content our team and audience can create using AI-powered tools.”

“These changes are beginning to drive deeper audience engagement and improved revenue trends on our owned and operated properties,” Peretti continued. “We are not just focused on making small optimizations to our business; our ambition is for BuzzFeed to be the defining digital media company for the AI era, and we will execute accordingly in the coming years.”

Second Quarter 2024 Financial and Operational Highlights for Continuing Operations (excluding Complex)3

●BuzzFeed4 delivered Q2 revenues of $46.9 million, declining 24% compared to the second quarter of 2023

○Advertising revenue declined 19% year-over-year to $23.8 million

●Programmatic advertising revenue grew 3% year-over-year to $16.0 million

○Content revenue declined 48% year-over-year to $11.4 million

○Commerce and other revenues grew 7% year-over-year to $11.7 million

●Affiliate commerce revenues grew 9% year-over-year to $10.4 million

●Net loss from continuing operations was $(6.5) million, compared to a net loss from continuing operations of $(22.5) million in the second quarter of 2023

●Adjusted EBITDA was $2.7 million, compared to Adjusted EBITDA loss of $(2.2) million in the second quarter of 2023, a year-over-year improvement of approximately $5 million

1 Source: Comscore Media Trend, desktop 2+ and mobile 18+, desktop and mobile; June 2024; [Competitive Set: Dotdash Meredith, Conde Nast Digital, Vox Media, People, Bustle Digital Group, Vice Media Group, Hearst]

2 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

3 The Company determined the assets of Complex Networks, excluding the First We Feast brand, met the classification for “held for sale.” Additionally, the Company concluded the disposal, which occurred on February 21, 2024, represented a strategic shift that had a major effect on our operations and financial results. As such, the historical financial results of Complex Networks have been reflected as discontinued operations in our condensed consolidated financial statements. Amounts presented throughout this press release are on a continuing operations basis (i.e., excluding Complex Networks).

4 BuzzFeed, Inc. is herein referred to as “BuzzFeed” or the “Company.”

●Time Spent5 declined 5% year-over-year to 71 million hours

Business and Content Highlights

●BuzzFeed, Inc. continued to outpace its peers in Q2 as the only digital media company in our competitive set to grow time spent in Q2, up 5% as compared to Q1, according to Comscore. Further, time spent among our core demographic - Millennials and Gen Z - grew 11% versus Q1.

●Direct traffic referrals are our largest source of traffic: in Q2, 90% of audience time spent with our content was on our owned and operated properties. And, direct traffic across BuzzFeed and HuffPost continued to show stability through the quarter.

●The BuzzFeed team has made great progress improving audience loyalty: the number of loyal users - users who return to the BuzzFeed web and app more than once in a 7-day period - has grown 11% since Q4 2023.

●Engagement has also deepened among our user base, with the number of page views per unique site visitor growing for the third consecutive quarter.

●The Company posted a record Prime Day in July, with strong double-digit growth in revenues year-over-year, outpacing Amazon’s overall Prime Day growth6.

Third Quarter 2024 Financial Outlook

●We expect overall revenues in the range of $58 million to $63 mil

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BUZZFEED, INC. FIRST QUARTER 2024 FINANCIAL RESULTS IN LINE WITH MARCH OUTLOOK

Company Completes Transformation to O&O-Led Platform

Flagship BuzzFeed Properties Show Early Momentum with 3% Growth In Direct Traffic Versus Q4

NEW YORK – May 13, 2024 – BuzzFeed, Inc1.’s (Nasdaq: BZFD) reported first quarter (ended March 31, 2024) financial results in line with the company’s outlook shared on March 25, 2024.

“We closed the first quarter of 2024 with exciting momentum in our business, completing the biggest step in our transformation, which was to refocus the company on our owned and operated sites and apps, and away from the platform-dependent model of distribution,” said Jonah Peretti, BuzzFeed Founder & CEO. “Today, our direct audience is our largest source of traffic to BuzzFeed’s websites and apps, and this audience is growing, which represents a huge opportunity for us to drive deeper engagement with several new content initiatives in our pipeline.”

Peretti continued, “Our flagship BuzzFeed brand continues to lead digital media in time spent. We’re poised to further extend this leadership with the integration of AI, driving both creative storytelling and the evolution of our business.”

First Quarter 2024 Financial and Operational Highlights for Continuing Operations (excluding Complex)2

●BuzzFeed delivered Q1 revenues of $44.8 million, declining 18% compared to the first quarter of 2023

○Advertising revenue declined 22% year-over-year to $21.4 million

○Content revenue declined 19% year-over-year to $13.1 million

○Commerce and other revenues declined 9% year-over-year to $10.2 million

●Net loss from continuing operations was $(26.6) million, compared to a net loss from continuing operations of $(29.4) million in the first quarter of 2023

●Adjusted EBITDA3 loss was $(11.3) million, compared to Adjusted EBITDA loss of $(18.1) million in the first quarter of 2023, an improvement of approximately $7 million

●Time Spent4 declined 16% year-over-year to 67 million hours

First Quarter 2024 Business and Content Highlights

●Programmatic advertising revenues grew year-over-year across the BuzzFeed and HuffPost websites and apps for the third consecutive quarter

●Direct traffic referrals are our largest source of traffic: in Q1, 90% of audience time spent with our content was on our owned and operated properties

1 “BuzzFeed” or the “Company.”

2 The Company determined the assets of Complex Networks, excluding the First We Feast brand, met the classification for “held for sale.” Additionally, the Company concluded the disposal, which occurred on February 21, 2024, represented a strategic shift that had a major effect on our operations and financial results. As such, the historical financial results of Complex Networks have been reflected as discontinued operations in our condensed consolidated financial statements. Amounts presented throughout this press release are on a continuing operations basis (i.e., excluding Complex Networks).

3 Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

4 Excludes Complex Networks and First We Feast; see definition of “Time Spent” below.

●We are starting to see that audience grow: in Q1, direct traffic across the BuzzFeed web and app properties increased 3% versus Q4

●Engagement deepened among our most loyal audience, with the number of pageviews per site visitor growing for four consecutive months since December 2023

●Our new AI Content Generator, Make Your Own Emoji, skyrocketed to the top 10 most engaged BuzzFeed posts of all time

Second Quarter 2024 Financial Outlook

●We expect overall revenues in the range of $44 to $49 million, or approximately 21% to 30% lower than second quarter of 2023

●We expect Adjusted EBITDA3 in the range of $(4) million in losses to $1 million in profits, approximately flat year-over-year at the midpoint

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

Please see “Non-GAAP Financial Measures” below for a description of how Adjusted EBITDA is calculated. While Adjusted EBITDA is a non-GAAP financial measure, we have not provided guidance for the most directly comparable GAAP financial measure — net income (loss) from continuing operations — due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary to forecast such a measure. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call t

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BUZZFEED, INC. MAKES STRATEGIC & ORGANIZATIONAL CHANGES TO IMPROVE PROFITABILITY AFTER CHALLENGING Q4 AND FULL YEAR 2023

Company Renews Focus on High-Margin Revenue Streams and Owned & Operated Properties and Strengthens Balance Sheet for 2024

Sale of Complex Marks an Important Milestone for BuzzFeed, Inc.

NEW YORK – (March 25, 2024) – BuzzFeed, Inc.’s (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) fourth quarter and full year (ended December 31, 2023) financial results were in line with its revised outlook shared in February, but fell short of its initial expectations. Looking ahead, following key strategic organizational changes, BuzzFeed is optimistic about 2024 with a commitment to high-margin revenue streams and a renewed focus on its owned and operated websites and apps.

“Three months into 2024, it’s clear BuzzFeed and digital media are at an inflection point,” said Jonah Peretti, BuzzFeed Founder & CEO. “We’ve restructured our business to focus on our scalable, high-margin, and tech-led revenue streams. We are leveraging AI tools to optimize our owned and operated platforms, accelerate innovation, and make our sites and apps more engaging, more personalized and more rewarding for all. Despite challenges over the past year, I’m optimistic about BuzzFeed's trajectory in 2024. I believe we have a tremendous opportunity in front of us to build the defining media company for the AI era.”

2023 Full Year Financial and Operational Highlights for Continuing Operations (excluding Complex)1

●BuzzFeed delivered Full Year 2023 revenues of $252.7 million, declining 26% compared to 2022

○Advertising revenue declined 31% year-over-year to $115.6 million

○Content revenue declined 31% year-over-year to $83.6 million

○Commerce and other revenues were relatively flat year-over-year at $53.4 million

●Net loss from continuing operations was $60.3 million, compared to a net loss of $140.5 million in 2022

●Adjusted EBITDA2 loss was $4.7 million, compared to Adjusted EBITDA of $0.3 million in 2022

●In 2023, audience Time Spent3 with our content was 306 million hours. Time Spent on our owned and operated properties grew 3% year-over-year, while Time Spent with our content on third-party platforms declined 32% year-over-year

●BuzzFeed ended the period with cash and cash equivalents of approximately $36 million

Fourth Quarter 2023 Financial and Operational Highlights for Continuing Operations (excluding Complex)1

●BuzzFeed delivered Q4 revenues of $75.7 million, declining 26% compared to the fourth quarter of 2022, in line with the Company’s revised outlook shared in February

○Advertising revenue declined 25% year-over-year to $31.9 million

○Content revenue declined 34% year-over-year to $27.0 million

○Commerce and other revenues declined 8% year-over-year to $16.7 million

1 The Company determined the assets of Complex Networks, excluding the First We Feast brand, met the classification for “held for sale.” Additionally, the Company concluded the disposal, which occurred on February 21, 2024, will represent a strategic shift that will have a major effect on our operations and financial results. As such, the historical financial results of Complex Networks have been reflected as discontinued operations in our consolidated financial statements. Amounts presented throughout this press release are on a continuing operations basis.

2 Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

3 Excludes Complex Networks and Facebook; see definition of “Time Spent” below.

●Net income from continuing operations was $3.5 million, compared to a net loss of $60.7 million in the fourth quarter of 2022

●Adjusted EBITDA2 was $15.1 million, compared to Adjusted EBITDA of $16.8 million in the fourth quarter of 2022, also in line with the Company’s February outlook

●Time Spent3 declined 12% year-over-year to 72 million hours, though we continue to outpace the competition

○In Q4, audiences once again spent more time consuming our content than that of any other digital media company in our competitive set4

First Quarter 2024 Financial Outlook

●We expect overall revenues in the range of $42 to $44 million, or 20% to 23% lower than first quarter 2023

●We expect Adjusted EBITDA losses in the range of $10 to $12 million, an improvement of approximately $7 million year-over-year at the midpoint

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

Please see “Non-GAAP Financial Measures” below for a description of how Adjusted EBITDA is calculated. While Adjusted EBITDA is a

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BuzzFeed, Inc. Announces Third Quarter 2023 Financial Results

NEW YORK – (November 2, 2023) – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today announced financial results for the third quarter ended September 30, 2023.

“We’ve taken significant steps to combat the ongoing traffic and monetization challenges facing digital media companies. We continue to be laser-focused on driving traffic directly to our owned and operated websites and apps in order to reduce our dependence on the major tech platforms for audience traffic, improve monetization and pivot our business to adjust to the new realities of an altered digital media landscape,” said Jonah Peretti, BuzzFeed Founder & CEO.

Peretti continued, “Across our portfolio of premium brands and IP, we reach millions of young people every day who visit us directly to enjoy our content. And, with the strategic and organizational changes we executed earlier this year, we are well-positioned to drive a year-over-year improvement in Adjusted EBITDA1 in Q4 and for the full year. Additionally, we are continuing to protect our liquidity position as we work toward building a sustainable long-term model for content creation.”

Third Quarter 2023 Financial and Operational Highlights

●BuzzFeed delivered Q3 revenues of $73.3 million, declining 29% compared to the third quarter of 2022

○Advertising revenue declined 35% year-over-year to $32.6 million

○Content revenue declined 32% year-over-year to $26.2 million

○Commerce and other revenues marginally declined 3% year-over-year to $14.5 million

●Net loss was $13.9 million, compared to a net loss of $27.0 million in the third quarter of 2022

●Adjusted EBITDA1 was $3.1 million, compared to Adjusted EBITDA loss of $2.4 million in the third quarter of 2022

●Time Spent decreased 19% year-over-year to 92 million hours2

●BuzzFeed ended the period with cash and cash equivalents of approximately $42 million

Fourth Quarter 2023 Financial Outlook

For the fourth quarter of 2023:

●We expect overall revenues in the range of $99 to $110 million

●We expect Adjusted EBITDA in the range of $20 to $30 million

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

Please see “Non-GAAP Financial Measures” below for a description of how Adjusted EBITDA is calculated. While Adjusted EBITDA is a non-GAAP financial measure, we have not provided guidance for the most directly comparable GAAP financial measure — net loss — due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary to forecast such measure. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

1 Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

2 Excludes Facebook; see below.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our third quarter 2023 results today, November 2, at 5PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News and Events, and parties interested in participating must register in advance. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. While it is not required, it is recommended you join 10 minutes prior to the event start time. A replay of the call will be made available at the same URL.

We have used, and intend to continue to use, the Investor Relations section of our website at investors.buzzfeed.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Definitions

BuzzFeed reports revenues across three primary business lines: Advertising, Content and Commerce and other. The definition of “Time Spent” is also set forth below.

●Advertising revenues are primarily generated from advertisers for ads distributed against our editorial and news content, including display, pre-roll and mid-roll video products sold directly to brands and also programmatically. We distribute these ad products across our owned and operated sites as well as third-party platforms, primarily YouTube and Apple News.

●Content revenues are primarily generated from clients for custom assets, including both long-form and short-form content, from branded

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BuzzFeed, Inc. Announces Second Quarter 2023 Financial Results

Delivered Q2 Results in line with May outlook

NEW YORK – (August 8, 2023) – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today announced financial results for the second quarter ended June 30, 2023.

“The strategic and organizational changes we discussed at our Investor Day in May have been fully executed, putting our rich library of IP and scaled, owned-and-operated properties at the center of our operating model to create innovative, audience-driven content,” said Jonah Peretti, BuzzFeed Founder & CEO.

Peretti continued, “In response to consolidation and share gains across the major platforms that continue to impact audience traffic to our content, we are laser focused on our strategy to drive traffic directly to our owned-and-operated properties. We have introduced new AI-assisted content formats to increase engagement and offer innovative advertising opportunities to our clients, rapidly expanded our creator network to participate in the rise of vertical video, and prioritized destination news content to grow our HuffPost front page audience.”

Second Quarter 2023 Financial and Operational Highlights

●BuzzFeed delivered Q2 revenues of $77.9 million, declining 27% compared to the second quarter of 2022

○Advertising revenue declined 33% year-over-year to $35.4 million

○Content revenue declined 22% year-over-year to $31.5 million

○Commerce and other revenues declined 17% year-over-year to $11.0 million

●Net loss was $27.8 million, compared to a net loss of $23.6 million in the second quarter of 2022

●Adjusted EBITDA1 loss was $0.1 million, compared to Adjusted EBITDA of $2.1 million in the second quarter of 2022

●Time Spent decreased 9% year-over-year to 96 million hours2

●BuzzFeed ended the period with cash and cash equivalents of approximately $41 million

Third Quarter 2023 Financial Outlook

For the third quarter of 2023:

●We expect overall revenues in the range of $73 to $78 million

●We expect Adjusted EBITDA in the range of $1 million in losses to $4 million in profits

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

Please see “Non-GAAP Financial Measures” below for a description of how Adjusted EBITDA is calculated. While Adjusted EBITDA is a non-GAAP financial measure, we have not provided guidance for the most directly comparable GAAP financial measure — net loss — due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary to forecast such measure. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

Quarterly Conference Call

1 Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

2 Excludes Facebook; see below.

BuzzFeed’s management team will hold a conference call to discuss our second quarter 2023 results today, August 8, at 5PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News and Events, and parties interested in participating must register in advance. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. While it is not required, it is recommended you join 10 minutes prior to the event start time. A replay of the call will be made at the same URL.

We have used, and intend to continue to use, the Investor Relations section of our website at investors.buzzfeed.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Definitions

BuzzFeed reports revenues across three primary business lines: Advertising, Content and Commerce and other. The definition of “Time Spent” is also set forth below.

●Advertising revenues are primarily generated from advertisers for ads distributed against our editorial and news content, including display, pre-roll and mid-roll video products sold directly to brands and also programmatically. We distribute these ad products across our owned and operated sites as well as third-party platforms, primarily YouTube and Apple News.

●Content revenues are primarily generated from clients for custom assets, including both long-form and short-form content, from branded quizzes to Instagram takeovers to sponsored content

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BuzzFeed, Inc. Announces First Quarter 2023 Financial Results

Delivered Q1 Results in line with March outlook

NEW YORK – (May 9, 2023) – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today announced financial results for the first quarter ended March 31, 2023.

“We have reached an inflection point in digital media. Over the last few months, we have made significant strategic and organizational changes to position the business for long-term growth. Adaptation is in our DNA. By leaning into Creators and AI, I believe we can unlock new opportunities across our portfolio of trusted brands - including Tasty, First we Feast, Complex, HuffPost, and BuzzFeed” said Jonah Peretti, BuzzFeed Founder & CEO.

First Quarter 2023 Financial and Operational Highlights

●BuzzFeed delivered Q1 revenues of $67.2 million, declining 27% compared to the first quarter of 2022

○Advertising revenue declined 30% year-over-year to $34.2 million

○Content revenue declined 33% year-over-year to $21.6 million

○Commerce and other revenues grew 6% year-over-year to $11.3 million

●Net loss was $36.3 million, compared to a net loss of $44.6 million in the first quarter of 2022

●Adjusted EBITDA1 loss was $20.2 million, compared to Adjusted EBITDA loss of $16.8 million in the first quarter of 2022

●Time Spent remained relatively consistent year-over-year, with a 3% decrease in overall Time Spent to 109 million hours2

●BuzzFeed ended the period with cash and cash equivalents of approximately $50 million

Second Quarter 2023 Financial Outlook

For the second quarter of 2023:

●We expect overall revenues in the range of $76 to $81 million

●We expect Adjusted EBITDA in the range of $0 to $4 million

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

Please see “Non-GAAP Financial Measures” below for a description of how Adjusted EBITDA is calculated. While Adjusted EBITDA is a non-GAAP financial measure, we have not provided guidance for the most directly comparable GAAP financial measure — net loss — due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary to forecast such measure. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our first quarter 2023 results today, May 9, at 5PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News & Events. To participate via telephone, please dial 833-634-1260 (toll-free) or 412-317-6021 (international) and ask to join the BuzzFeed, Inc. call. A replay of the call will be made available at the same URL.

1 Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

2 Excludes Facebook; see below.

Additionally, BuzzFeed, Inc. will be hosting a virtual Investor Day on Thursday, May 11, 2023 at 1:00pm ET. The event will be streamed via webcast and followed by a live Q&A session. Registration for the event is now open on our Investor Relations site at investors.buzzfeed.com and a replay of the event will be made available at the same URL.

We have used, and intend to continue to use, the Investor Relations section of our website at investors.buzzfeed.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Definitions

BuzzFeed reports revenues across three primary business lines: Advertising, Content and Commerce and other. The definition of “Time Spent” is also set forth below.

●Advertising revenues are primarily generated from advertisers for ads distributed against our editorial and news content, including display, pre-roll and mid-roll video products sold directly to brands and also programmatically. We distribute these ad products across our owned and operated sites as well as third-party platforms, primarily YouTube and Apple News.

●Content revenues are primarily generated from clients for custom assets, including both long-form and short-form content, from branded quizzes to Instagram takeovers to sponsored content and content licensing. Revenues for film and TV projects produced by BuzzFeed Studios and Complex Networks are also included here.

●Commerce and other revenues consist primarily of affiliate commissions earned on transactions initiated from our editorial shopping content. Rev

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Exhibit 99.1

A message from Jonah Peretti, BuzzFeed Founder and CEO

Hi all,

I am writing to announce some difficult news. We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News. Additionally, we are proposing headcount reductions in some international markets.

Impacted employees (other than those in BuzzFeed News) will receive an email from HR shortly. If you are receiving this note from me, you are not impacted by today’s changes. For BuzzFeed News, we have begun discussions with the News Guild about these actions.

As part of today’s changes, both our CRO Edgar Hernandez and COO Christian Baesler have made the decision to exit the company. I’m grateful to both of them for their passion and dedication to Complex and to BuzzFeed, Inc. Christian will be with us through the end of April, and Edgar through the end of May to help with the transition.

Marcela Martin, our President, will take on responsibility for all revenue functions effective immediately. In the US, Andrew Guendjoian is our new Head of Sales, and Ken Blom will continue in his role as Head of Revenue Operations. Globally, International Sales will move under Rich Reid, Head of International and Head of Studio, also reporting to Marcela.

I have great confidence in this revenue leadership team, and the early plans I’ve seen from them to accelerate performance from our Business Org. We will share more on their plans in the Business All Hands next week (and we are extending an invite company-wide).

The changes the Business Organization is making today are focused on reducing layers in their organization, increasing speed and effectiveness of pitches, streamlining our product mix, doubling down on creators, and beginning to bring AI enhancements to every aspect of our sales process.

While layoffs are occurring across nearly every division, we've determined that the company can no longer continue to fund BuzzFeed News as a standalone organization. As a result, we will engage with the News Guild about our cost reduction plans and what this will mean for the affected union members.

HuffPost and BuzzFeed Dot Com have signaled that they will open a number of select roles for members of BuzzFeed News. These roles will be aligned with those divisions’ business goals and match the skills and strengths of many of BuzzFeed News's editors and reporters. We raised this idea with the News Guild this morning and look forward to discussing it further. Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience.

I want to explain a little more about why we’ve come to these deeply painful decisions. We’ve faced more challenges than I can count in the past few years: a pandemic, a fading SPAC market that yielded less capital, a tech recession, a tough economy, a declining stock market, a decelerating digital advertising market and ongoing audience and platform shifts. Dealing with all of these obstacles at once is part of why we’ve needed to make the difficult decisions to eliminate more jobs and reduce spending.

But I also want to be clear: I could have managed these changes better as the CEO of this company and our leadership team could have performed better despite these circumstances. Our job is to adapt, change, improve, and perform despite the challenges in the world. We can and will do better.

In particular, the integration process of BuzzFeed and Complex, and the unification of our two business organizations, should have been executed faster and better. The macro environment is tough, but we had the potential to generate much more revenue than we delivered over the past 12 months.

Additionally, I made the decision to overinvest in BuzzFeed News because I love their work and mission so much. This made me slow to accept that the big platforms wouldn’t provide the distribution or financial support required to support premium, free journalism purpose-built for social media.

Exhibit 99.1

More broadly, I regret that I didn’t hold the company to higher standards for profitability, to give us the buffer needed to manage through economic and industry downturns and avoid painful days like today. Our mission, our impact on culture, and our audience is what matters most, but we need a stronger business to protect and sustain this important work.

Please know that we exhausted many other cost saving measures to preserve as many jobs as possible. We are reducing budgets, open roles, travel and entertainment, and most other discretionary, non-revenue generating expenditures. Just as we reduced our footprint in NYC last year, we will be reducing our real estate in Los Angeles -- from four buildings down to one, which saves millions in costs as well as mirrors our current hybrid state of work.

I’ve learned from these mistakes, and the team movin

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Exhibit 99.1

BuzzFeed, Inc. Announces Fourth Quarter and Full Year 2022 Financial Results

Delivered Q4 Results in line with November outlook

NEW YORK – (March 13, 2023) – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today announced financial results for the full year and fourth quarter ended December 31, 2022.

“There's no denying that 2022 was a tough year for digital media. The challenges we faced in Q4 are also impacting us in Q1 2023, and it is clear we have more work to do to realize the full potential of our combined brand portfolio,” said Jonah Peretti, BuzzFeed Founder & CEO. “As we work to address these challenges, our value proposition continues to resonate strongly in the marketplace. With iconic brands, a massive audience and a differentiated technology platform, we occupy a unique position in the ecosystem of audiences, creators, platforms and advertisers. And, our work in the exciting new areas of creators and artificial intelligence are continuing to lead the way in defining the future of media.”

Full-Year 2022 Financial and Operational Highlights1

●Including Complex Networks in the 2022 results, BuzzFeed delivered full year revenues of $436.7 million, growing 10% compared to 2021

○Advertising revenue, consisting of payments we receive from advertisers for ads distributed against our editorial and news content, including display and pre-roll, was approximately flat at $202.8 million

○Content revenue, consisting of payments received from clients for custom assets, including both short-form and long-form ranging from branded quizzes to Instagram takeovers to feature films and content licensing, grew 27% year-over-year to $165.8 million

○Commerce and other revenues, which includes affiliate marketplace, product licensing and events revenue, grew 11% year-over-year to $68.1 million

●Net loss was $201.3 million, including a non-cash goodwill impairment charge of $102.3 million, compared to net income of $25.9 million in 2021

●Adjusted EBITDA2 was $0.5 million, compared to Adjusted EBITDA of $41.5 million in 2021

●Growth in Time Spent on our owned and operated properties was more than offset by declines on third-party platforms, resulting in a 21% decline in overall Time Spent, to 624 million hours.

●BuzzFeed ended the year with cash and cash equivalents of approximately $56 million. As of March 10, 2023, the majority of the Company’s cash and cash equivalents balance were held at Silicon Valley Bank. However, in a joint statement released by the U.S. Department of the Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation, the U.S. government reassured that all depositors will be fully protected. The Company is accessing its funds and does not currently anticipate any disruption to its ongoing operations.

Fourth Quarter 2022 Financial and Operational Highlights1

●Including Complex Networks in the 2022 results, BuzzFeed delivered Q4 revenues of $134.6 million, declining 8% compared to the fourth quarter of 2021

○Advertising revenue declined 27% year-over-year to $50.5 million

○Content revenue declined 9% year-over-year to $54.8 million

○Commerce and other revenues grew 76% year-over-year to $29.3 million

●Net loss was $106.2 million, including a non-cash goodwill impairment charge of $102.3 million, compared to a net income of $41.6 million in the fourth quarter of 2021

1 2021 actual results include Complex Networks as of December 2021.

2 Adjusted EBITDA is a non-GAAP financial measure. Please refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

●Adjusted EBITDA2 was $17.6 million, compared to Adjusted EBITDA of $34.2 million in the fourth quarter of 2021

●Growth in Time Spent on our owned and operated properties was more than offset by declines on third-party platforms, resulting in a 27% decline in overall Time Spent, to 135 million hours.

First Quarter 2023 Financial Outlook

For the first quarter of 2023:

●We expect overall revenues in the range of $61 to $67 million

●We expect Adjusted EBITDA losses in the range of $18 to $25 million

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to “Forward-Looking Statements” below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

Please see “Non-GAAP Financial Measures” below for a description of how Adjusted EBITDA is calculated. While Adjusted EBITDA is a non-GAAP financial measure, we have not provided guidance for the most directly comparable GAAP financial measure — net (loss) income — due to the inherent difficulty in forecast

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EXHIBIT 99.1

Exhibit 99.1

BuzzFeed, Inc. Reaffirms Fourth Quarter 2022 Financial Outlook

for Revenue and Adjusted EBITDA Following Yesterday’s Cost Restructuring Announcement

NEW YORK – (December 7, 2022) – BuzzFeed,

Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today has reaffirmed its fourth quarter 2022 financial outlook following yesterday’s announcement of a cost restructuring plan.

“Yesterday we implemented a restructuring to enable BuzzFeed to weather ongoing macroeconomic headwinds and audience shifts. We have a long history of adapting and investing in strategies to best serve our audiences and business partners,” said Jonah Peretti, BuzzFeed Founder and CEO. “Successful execution against our plans will enable us to invest in areas that will drive growth and build a more robust creator business.”

Peretti concluded, “Following these changes, we are reaffirming our fourth quarter 2022 financial outlook. This plan also represents a proactive step to ensure the Company is set up to accelerate execution and deliver strong business results into 2023.”

Fourth Quarter 2022 Financial Outlook

For the fourth quarter of 2022:

●We expect overall revenues in the range of $129 to $134 million

●We expect Adjusted EBITDA in the range of $12.5 to $17.5 million

These statements are forward-looking and actual results may differ

materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

We have not provided the most directly comparable GAAP financial guidance measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

About BuzzFeed, Inc.

BuzzFeed, Inc. is home to the best of the internet. Across food, news, pop culture and commerce, our brands drive conversation and inspire what audiences watch, read, buy, and obsess over next. Born on the internet in 2006, BuzzFeed, Inc. is committed to making it better: providing trusted, quality, brand-safe news and entertainment to hundreds of millions of people; making content on the internet more inclusive, empathetic, and creative; and inspiring our audience to live better lives.

Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures

and represent key metrics used by management and our board of directors to measure the operational strength and performance of our business, to establish budgets, and to develop operational goals for managing our business. We define Adjusted EBITDA as net loss, excluding the impact of net (loss) income attributable to noncontrolling interests, income tax provision (benefit), interest expense, interest income, other expense, net, depreciation and amortization, stock-based compensation, change in fair value of warrant liabilities, change in fair value of derivative liability, restructuring costs, impairment expense, transaction-related costs, certain litigation costs, public company readiness costs, and other non-cash and non-recurring items that management believes are not indicative of ongoing operations. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenue for the same period.

We believe Adjusted EBITDA and Adjusted EBITDA margin are relevant and useful information for investors because they allow investors to view performance in a manner similar to the method used by our management. There are limitations to the use of Adjusted EBITDA and Adjusted EBITDA margin and our Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similarly titled measures of other companies. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes.

Adjusted EBITDA and Adjusted EBITDA margin should not be considered a substitute for measures prepared in accordance with GAAP.

Forward-Looking Statements

Certain statements in this press release may be considered forward-looking

statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Our forward-looking statements include, but are not limited to, statements regarding our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts (including our outlook for Q4 2022) or other characterizations of future events or circumstances,

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EXHIBIT 99.1

Exhibit 99.1

BuzzFeed, Inc. Announces Third Quarter 2022 Financial Results

Results exceeded August outlook for both Revenue and Adjusted EBITDA

Q3 Revenue grew 15% year-over-year to $104 million

NEW YORK – (November 14, 2022) – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today announced financial results for the quarter ended September 30, 2022.

“I am proud of the results our team delivered in the third quarter, exceeding our August outlook for both Revenue and Adjusted EBITDA, in spite of the rapidly shifting platform landscape and ongoing macroeconomic uncertainty,” said Jonah Peretti, BuzzFeed Founder & CEO. “In the current environment, our advertising clients have limited budgets to deploy, and we continue to win on massive audience reach, culturally relevant IP and brand safety.”

Mr. Peretti concluded, “Looking ahead, we are on pace to deliver our strongest performance of the year in the fourth quarter. As we continue to navigate the dual dynamics of the rapid rise of short-form vertical video and an uncertain macroeconomic environment, we are focused on preserving cash and leveraging a deep understanding of our audience to direct resources toward the opportunities with the highest potential for monetization.”

Third Quarter 2022 Financial and Operational Highlights1

●Including Complex Networks in the 2022 results, BuzzFeed increased Q3 revenues to $103.7 million, growing 15% compared to the third quarter of 2021

○Advertising revenue, consisting of payments we receive from advertisers for ads distributed against our editorial and news content, including display and pre-roll, was $50.4 million, flat year-over-year

○Content revenue, consisting of payments received from clients for custom assets, including both short-form and long-form ranging from branded quizzes to Instagram takeovers to feature films, grew 45% year-over-year to $38.4 million

○Commerce and other revenues, which includes affiliate marketplace, product licensing and events revenue, grew 12% year-over-year to $14.9 million

●Net loss was $27.0 million, compared to a net loss of $3.6 million in the third quarter of 2021

●Adjusted EBITDA2 loss was $2.4 million, compared to Adjusted EBITDA of $6.0 million in the third quarter of 2021

●Time spent declined 32% year-over-year to 151 million hours across our owned and operated properties as well as third-party platforms

●BuzzFeed ended the third quarter with cash and cash equivalents of approximately $59.1 million

1 2021 actual results include Complex Networks as of December 2021.

2 A non-GAAP financial measure, as defined below

Fourth Quarter 2022 Financial Outlook

For the fourth quarter of 2022:

● We expect overall revenues in the range of $129 to $134 million

● We expect Adjusted EBITDA in the range of $12.5 to $17.5 million

○ Additionally, we expect stock-based compensation expenses in the range of $3.5 to $4.5 million

These statements are forward-looking

and actual results may differ materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

We have not provided the most directly comparable GAAP financial guidance measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our third quarter 2022 results today, November 14, at 5PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News & Events. To participate via telephone, please dial 833-634-1260 (toll-free) or 412-317-6021 (international) and ask to join the BuzzFeed, Inc. call. A replay of the call will be made available at the same URL.

We have used, and intend to continue to use, the Investor Relations section of our website at https://investors.buzzfeed.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Definitions

BuzzFeed reports revenues across three primary business lines: Advertising, Content and Commerce and other. The definition of “Time Spent” is also set forth below.

●Advertising revenues consist primarily of payments we receive from advertisers for ads distributed against our editorial and news content, including display, pre-roll and mid-roll video products sold directly to brands and also programmatically. We distribute these ad products across our owned and operated sites as well as third-party platforms, primarily Facebook, YouTube, and Apple News.

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EXHIBIT 99.1

Exhibit 99.1

BuzzFeed, Inc. Announces Second Quarter 2022 Financial Results

Results in line with May outlook for Revenue and Adjusted EBITDA

Q2 revenue grew 20% year-over-year to $107 million, surpassing $100 million to mark highest-ever Q2

NEW YORK – (August 9, 2022) – BuzzFeed, Inc. (“BuzzFeed”

or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today announced financial results for the quarter ended June 30, 2022.

“I’m incredibly proud of what BuzzFeed, Inc. accomplished in the second quarter,” said Jonah Peretti, BuzzFeed Founder & CEO. “Our teams demonstrated focus and resiliency during a rapid shift to short-form vertical video and increasing macroeconomic uncertainty, delivering revenue and Adjusted EBITDA in line with our May outlook. Against this backdrop, our value proposition for advertisers and platforms is stronger than ever."

Mr. Peretti concluded, “At the same time, we expect recession concerns to continue putting pressure on advertising, and we're prepared for what comes next. We've navigated multiple economic downturns and seismic industry shifts. I am confident we’ll do so again, positioning the company for long-term growth and monetization.”

Second Quarter 2022 Financial and Operational Highlights1

●Including Complex Networks in the 2022 results, BuzzFeed increased revenues to $106.8 million, growing 20% compared to the second quarter of 2021

oAdvertising revenue, consisting of payments we receive from advertisers for ads distributed against our editorial and news content, including display and pre-roll, grew 11% year-over-year to $53.2 million

oContent revenue, consisting of payments received from clients for custom assets, including both short-form and long-form and content from branded quizzes to Instagram takeovers to feature films, grew 66% year-over-year to $40.3 million

oCommerce and other revenues, which includes affiliate marketplace, product licensing and events revenue, declined 22% year-over-year to $13.3 million

●Net loss was $23.6 million, compared to a net loss of $0.8 million in the second quarter of 2021

●Adjusted EBITDA2 was $2.1 million, compared to Adjusted EBITDA of $5.6 million in the second quarter of 2021

●Time spent declined 19% year-over-year to 154 million hours across our owned and operated properties as well as third-party platforms

●BuzzFeed ended the second quarter with cash and cash equivalents of approximately $68.2 million

1 2021 actual results include Complex Networks as of December 2021.

2 A non-GAAP financial measure, as defined below.

Third Quarter 2022 Financial Outlook

For the third quarter of 2022:

●We expect overall revenues to grow in the range of 4 to 8 percent year-over-year

●We expect Adjusted EBITDA losses in the range of $5 to $10 million

oAdditionally, we expect stock-based compensation expenses in the range of $3.5 to $4.5 million

These statements are forward-looking and actual results may differ

materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

We have not provided the most directly comparable GAAP financial guidance measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our second quarter 2022 results today, August 9, at 5PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News & Events. To participate via telephone, please dial 833-634-1260 (toll-free) or 412-317-6021 (international) and ask to join the BuzzFeed, Inc. call. A replay of the call will be made available at the same URL.

We have used, and intend to continue to use, the Investor Relations section of our website at https://investors.buzzfeed.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Definitions

BuzzFeed reports revenues across three primary business lines: Advertising, Content and Commerce and other. The definition of “Time Spent” is also set forth below.

●Advertising revenues consist primarily of payments we receive from advertisers for ads distributed against our editorial and news content, including display, pre-roll and mid-roll video products sold directly to brands and also programmatically. We distribute these ad products across our owned and operated sites as well as third-party platforms, primarily Facebook, YouTube, and Apple News.

●Content revenues consist primarily of payments received from clients f

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EXHIBIT 99.1

Exhibit 99.1

BuzzFeed, Inc. Announces First Quarter 2022 Financial Results

Results in line with March outlook for Revenue and Adjusted EBITDA

Q1 revenue grew 26% year-over-year to $92 million, driven by robust double-digit growth in Content revenue

NEW YORK – (May 16, 2022) – BuzzFeed, Inc.

(“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today announced financial results for the quarter ended March 31, 2022.

“I’m incredibly proud of all that our team accomplished in the first quarter,” said Jonah Peretti, BuzzFeed Founder & CEO. “We completed the unification of the sales, business and admin teams across BuzzFeed and Complex Networks, demonstrated agility across our editorial, video and news teams in serving ever-evolving audience and consumer preferences, and delivered first quarter Revenue and Adjusted EBITDA in line with the outlook that we shared in March.”

Mr. Peretti continued, “We are offering our partners a comprehensive solution to the biggest challenges they face in the marketplace today. Our focused, strategic investments in vertical video, first party data and creator programs are synergistic and together become more than the sum of their parts.”

Mr. Peretti concluded, “With those investments, as well as the rapid integration of Complex Networks into the company, BuzzFeed, Inc. is increasingly well positioned to serve the growing demand for brand-safe, culturally relevant content, deepen our competitive moats, and help shape the next generation of the internet.”

2022 Q1 Financial and Operational Highlights1

●Including HuffPost and Complex Networks results from the date of each acquisition, BuzzFeed increased revenues to $91.6 million, growing 26% compared to the first quarter of 2021

○ Advertising revenue, consisting of payments we receive from advertisers for ads distributed against our editorial and news content, including display and pre-roll, grew 26% year over year to $48.7 million

○Content revenue, consisting of payments received from clients for custom assets, including both long-form and short-form content from branded quizzes to Instagram takeovers, grew 65% year over year to $32.3 million

○Commerce revenue, which includes affiliate marketplace and product licensing revenue, declined 27% year over year to $10.6 million

●Net loss was $44.6 million, compared to a net loss of $11.3 million in the first quarter of 2021

●Adjusted EBITDA2 loss was $16.8 million, compared to Adjusted EBITDA loss of $4.3 million in the first quarter of 2021

1 2021 actual results include HuffPost as of February 2021 and Complex Networks as of December 2021.

2 A non-GAAP financial measure, as defined below.

●Time spent declined 4% year over year to 184 million hours across our owned and operated properties as well as third-party platforms

●BuzzFeed ended the first quarter with cash and cash equivalents of approximately $74.5 million

Second Quarter 2022 Financial Outlook

For the second quarter of 2022:

●We expect overall revenues to grow by a low 20s percentage year-over-year

●We expect Adjusted EBITDA in the range of $2 to $7 million

○Additionally, we expect stock-based compensation expenses in the range of $11 to $13 million

These statements are forward-looking and actual results may differ

materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on factors that could cause our actual results to differ materially from these forward-looking statements.

We have not provided the most directly comparable GAAP financial guidance measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Accordingly, a reconciliation of non-GAAP guidance for Adjusted EBITDA to the corresponding GAAP measure is not available.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our first quarter 2022 results today, May 16, at 5PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News & Events. To participate via telephone, please dial 855-289-4604 (toll-free) or 253-236-3418 (international) and use the conference ID 3458216. A replay of the call will be made available at the same URL.

We have used, and intend to continue to use, the Investor Relations section of our website at https://investors.buzzfeed.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Definitions

BuzzFeed reports revenues across three primary business lines: Advertising, Content and Commerce. The definition of “Time Spent” is also set forth below.

●Advertising revenues consist primarily of payments we receive from advertisers for ads distributed against our editorial and news content, i