On November 6, 2025, BuzzFeed, Inc. (Nasdaq: BZFD) released its financial results for the third quarter, revealing a mixed performance against the backdrop of a challenging economic environment. Despite a notable decrease in revenues, the company’s management remains optimistic about future growth, especially in its engagement with Gen Z and Millennial audiences.

1. Q3 Financial Overview: Declines Across Key Metrics

BuzzFeed reported total revenue of $46.3 million for the quarter ended September 30, 2025, marking a 17% decline from $55.6 million in Q3 2024. The downturn reflects a combination of reduced advertising revenue, content revenue, and commerce sales.

Revenue Breakdown

Advertising Revenue: The company’s advertising revenue fell to $22.2 million, down from $24.8 million in the same quarter last year, representing an 11% decrease.

Content Revenue: Revenue from content dropped significantly to $7.2 million, a 33% decline from $10.7 million in Q3 2024.

Commerce and Other Revenue: This segment also faced challenges, decreasing to $17.0 million from $20.1 million, equating to a 15% drop.

Profitability Concerns

BuzzFeed reported a net loss of $7.4 million from continuing operations, a stark contrast to the net income of $2.5 million seen in Q3 2024. Adjusted EBITDA also suffered, totaling $0.8 million, down from $8.1 million in the prior year.

Audience Engagement

The total U.S. time spent across all BuzzFeed properties was 68.5 million hours, down from 80.3 million hours in Q3 2024. This decrease was anticipated due to lower news consumption following the heightened engagement during the previous presidential election cycle.

2. Strategic Focus: Building Relationships with Younger Audiences

CEO Jonah Peretti acknowledged the challenges faced in Q3 but emphasized the company’s commitment to advancing its core strategy. He stated, “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.” Peretti hinted at ongoing product development aimed at enhancing engagement with these demographics, with plans to unveil more in the upcoming quarter.

Business Highlights

BuzzFeed has made strides in reducing its dependency on third-party platforms:

Traffic Diversification: 63% of traffic to BuzzFeed.com now originates from direct visits, internal referrals, and app activity, an increase from 61% in Q2. Additionally, HuffPost’s homepage pageviews and referrals accounted for 75% of total traffic, up from 70% a year ago.

Audience Engagement: The company remains a leader among Gen Z and Millennials, achieving 10.7 million hours of time spent with this audience, an increase of 25% from Q2. BuzzFeed.com itself generated 37.2 million hours of U.S. time spent, reflecting a 4% year-over-year growth.

3. Looking Ahead: Revised Full Year 2025 Financial Outlook

As BuzzFeed prepares to close out the year, the company has adjusted its financial outlook for 2025. Management anticipates revenue to fall within the range of $185 million to $195 million. Furthermore, adjusted EBITDA is expected to stabilize, projected between break-even and $10 million.

CFO Matt Omer expressed a cautious optimism, stating, “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.”

4. Conclusion

While BuzzFeed’s Q3 results reflect significant challenges with revenue declines and a return to net losses, the company’s strategic focus on enhancing its relationship with younger audiences and diversifying traffic sources suggests a proactive approach to navigating the turbulent digital media landscape. As the company looks to recover in Q4 2025, stakeholders will keenly watch for signs of stabilization and growth.

Original press release