BuzzFeed has announced it has partnered with CNN to launch a new YouTube channel that will feature content specifically designed to be shared across social platforms.
The investment will reach “a low eight-digit sum” over two years for content development, Jon Steinberg, BuzzFeed COO said in an interview for The Wall Street Journal.
According to him, three new videos will be created per week. Older content from CNN and BuzzFeed videos will also be available on the new channel.
BuzzFeed already has several YouTube channels. The deal will also be beneficial for CNN, as it will help raise its profile among a younger audience that BuzzFeed caters to.
The two companies have agreed to develop various ad formats and sponsored content later on, in order to monetize their common efforts. However, for now, there will be no advertisements.