BuzzFeed, Inc. (BZFD) Q2 2025 Earnings Call Transcript
Total Revenue $46.4 million in Q2 2025, an increase of 13% year-over-year from $41.1 million in Q2 2024. Growth was driven by a fourfold increase in studio revenue, a 23% increase in organic affiliate commerce, and an 11% increase in programmatic advertising, offsetting softer results in direct sold advertising and direct sold content.
Advertising Revenue $22.6 million in Q2 2025, a decrease of 3% year-over-year from $23.2 million in Q2 2024. Programmatic advertising grew by 11% year-over-year to $17.4 million, while direct sold advertising declined by 31% due to market softness and a deliberate focus on programmatic advertising.
Content Revenue $10.7 million in Q2 2025, an increase of 53% year-over-year from $7 million in Q2 2024. Growth was driven by a nearly fourfold increase in studio revenue of $4.7 million, partially offset by a 17% decline in direct sold content due to muted demand and a shift towards higher-value partnerships.
Commerce and Other Revenues $13.1 million in Q2 2025, an increase of 20% year-over-year from $10.9 million in Q2 2024. Organic affiliate commerce grew 23% year-over-year to $12.8 million, supported by strong audience demand and an expanding partner base. Product licensing saw a minor decline of $200,000.
Net Loss from Continuing Operations $10.6 million in Q2 2025, worsening from a loss of $5.4 million in Q2 2024. This was primarily driven by a $5.5 million nonrecurring charge related to the extinguishment of convertible notes.
Adjusted EBITDA $2 million in Q2 2025, an increase from $800,000 in Q2 2024. This includes a one-time $2.4 million reversal that positively impacted the quarter's results.
Total U.S. Time Spent 69.9 million hours in Q2 2025, a slight decrease from 71 million hours in Q2 2024 but a 3% increase quarter-over-quarter from Q1 2025. This reflects deeper loyalty and a higher share of traffic coming directly to owned and operated properties.
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