Media Briefing: A history of media companies getting into the social platform business, in light of BuzzFeed's plans

This week's Media Briefing highlights BuzzFeed's initiative to create its own social media platform, termed 'BuzzFeed Island,' as CEO Jonah Peretti criticizes current tech platforms for spreading negative content. Peretti's memo discusses the impact of 'SNARF' content and outlines the goal of fostering joy and creativity through a new platform underpinned by artificial intelligence. The article reflects on past failures of media companies to launch successful platforms, noting challenges such as maintaining a sustainable revenue model and evolving technology. While BuzzFeed's approach is ambitious, historical context suggests a daunting road ahead.

BuzzFeed aims to combat harmful content with its new social media platform 'BuzzFeed Island,' promoting joy and creative expression using AI technology.

Media companies have struggled historically with launching successful social platforms, with most initiatives failing due to unsustainable business models and changing user behaviors.

Read at Digiday