BuzzFeed recently launched a new product review website, BuzzFeed Reviews, according to The Wall Street Journal. Each review designates the three best products in a category at varying price points. BuzzFeed earns revenue on online purchases made by readers who click through the site’s shopping links, the Journal story said.
BuzzFeed, like other digital publishers, has used the affiliate link model—where companies link to products on retail websites like Amazon, and earn a portion of revenue of purchases made—for years. But dedicated product review sites have gained popularity, as they give publishers closer access to readers who are more likely to spend money. In 2016, the New York Times purchased product review website The Wire Cutter for $30 million. A month later, New York Magazine launched its own competitor, The Strategist.
BuzzFeed in particular has been trying to diversify its revenue sources in recent years. The company hired Melinda Lee as Chief Content Officer this year to help grow revenue for brands like Tasty and Goodful. And yesterday, BuzzFeed News unveiled an option for readers to donate to its newsroom.