Jonah Peretti, founder and chief executive of the wildly popular website BuzzFeed, is trying to choose his favorite online video.
Drunk vs. Stoned was pretty fun, he finally says, singling out a BuzzFeed video in which a staffer tests whether its easier to function on alcohol or on marijuana by getting really drunk and, on a different night, getting really baked. The three-minute video, featuring side-by-side comparisons of dancing, ball catching, drawing and Lego building, has scored more than 3.1 million views since its debut two months ago.
BuzzFeed itself is riding high these days.
Drunk vs. Stoned was just the latest monster hit in its arsenal of viral social content, which attracted record traffic of 85 million unique visitors in August, three times the number it had a year earlier. By this time next year, Peretti predicts, BuzzFeed will be one of the worlds most visited websites.
Peretti and BuzzFeeds staff members, self-described Internet nerds, have an uncanny ability to predict what will blow up online. The Manhattan company measures success not by page views but by shareability the number of people who like a post enough to pass it on to their friends via Facebook, Twitter, Pinterest and other social media channels.
We would rather someone get to a post because a friend suggested it to them, said Doree Shafrir, BuzzFeeds executive editor. No one wants to share something crappy, because then they look like idiots. Were very cognizant of that.
Launched in 2006, BuzzFeed is dominated by lighthearted, frothy fare: the funniest cat GIFs of the week, scandalous Miley Cyrus photos, 19 Reasons Why Pants Are the Enemy.
But Peretti, who also co-founded the Huffington Post, is determined to turn BuzzFeed into more than just a site known for funny lists and has been vocal about his ambitious plans to grow the company into an all-around media juggernaut for the mobile social age.
Focus of video
To do so, the 39-year-old hired Ben Smith from Politico to be BuzzFeeds editor in chief, beefed up the sites hard news coverage and invested in long-form journalism. To reach international readers, BuzzFeed on Monday announced that it would add Spanish, French and Portuguese versions of the site.
His latest push: A major video initiative that has brought BuzzFeed, naturally, to Los Angeles, where it has converted a former beauty supply store on Beverly Boulevard into a bureau largely devoted to conceiving and producing viral videos. It also leased a smaller production facility a couple of miles away in Hollywood.
Video was a huge missing piece, Peretti said during a recent visit to L.A., where he discussed his plans while shuffling a stack of yellow stickers printed with omg, lol and cute. We wanted to do for video what we did with other kinds of content.
The video space has seen radical change in the last few years thanks to smartphones and tablets, which enable viewers to watch content online when and where they want.
The massive potential for social mobile video was exemplified last year by Gangnam Style, the over-the-top, dance-happy music video by Korean pop star Psy that attained new heights of virality. In December it became the first video to hit 1 billion views on YouTube.
No media executive said, Were putting this on at prime time, its going to have millions of viewers, and its going to be the biggest thing, Peretti said. It was people in their offices, people on their mobile phones, seeing it and saying, Oh, I want to share this, I want to pass this around.
BuzzFeeds L.A. team, he said, is building the TV studio and movie studio of the future by creating original videos to fit these new patterns of media consumption.
The company is predicting that its core audience of 18- to 34-year-olds will binge watch and share its videos with the same fervor with which they spread BuzzFeed lists such as 30 Signs Youre Almost 30 (7.9 million views, 111,000 Facebook shares, 10,000 tweets).
Its also a slick advertising move, media watchers say.
The easiest money to be made in content is pre-roll ads in front of videos, said Gabriel Kahn, a professor at the Annenberg School for Communication and Journalism at the University of Southern California. Theres been kind of a stampede into video.
Not that BuzzFeed needs help generating money. The social news site gets all its revenue from so-called native advertising shareable ads that look like BuzzFeed editorial content. Its revenue grew from zero four years ago to $20 million in 2012, and the company is on track to do $60 million this year.
BuzzFeed is also profitable, although the privately held company declined to say how much it earns.
BuzzFeed, which has raised $46.3 million to date, has been on a hiring spree and now has more than 340 employees; most are younger than 35.