Jonah Peretti at Changing Media Summit 2013

Notes, insights and learning from Jonah Peretti’s keynote at Guardian’s Changing Media Summit 2013.

peretti Buzzfeed’s Jonah Peretti on how ideas travel on the social web – video

Well, that came in handy. While Johannes and I are spending this weekend on researching as much as possible about the publishing industry, we stumbled upon this fantastic keynote by Jonah Peretti at Guardian’s Changing Media Summit. If you are not familiar with the name, Jonah is the CEO of Buzzfeed and is hailed – quite possibly rightly so – as the wunderkind of the publishing industry. Buzzfeed is not his first success. He was instrumental to the rise of the famous Huffington Post before that.

We took some notes and thought that some of you might find them useful as well. So here it is, the video and our rather unfiltered notes (mostly just sentences he said).

A little side anecdote as to the creation of this blog post: I created the initial notes by writing them down in iA Writer, transferring them into Draft and sharing them with Johannes. There, Johannes added his notes and I had the chance to approve them. Draft is an amazing tool for collaborative writing. It’s a bit like github for writing.

Notes, Insights & Learnings

  • Over 40+ Mio unique visitors per month
  • Primarily from social
  • Mostly 18-34
  • Over 40% from mobile
  • Shift from Portals -> Search -> Social
  • HuffPo was grown rapidly through search, BuzzFeed through social.
  • “Bored-At-Work”-Network = Collectively larger than the audience BBC or CNN reaches
  • Literally hundreds of millions of people
  • Weren’t initially aware that they are part of a network
  • If your mobile doesn’t work on mobile, it doesn’t spread
  • Mobile and Social have converged.
  • Make something that ordinary people want to share
  • “Biggest misconception is that you need to focus on quality for things to go viral.”
  • Quality helps, but it’s not necessary
  • Idea matters, but as important is the mechanism for spreading the idea
  • You should spend an equal amount of time on how to spread an idea as you spend time on the idea itself.
  • BuzzFeed combines Art & Science, which is the creativity/the idea and the data-driven approach to spreading it.
  • R = ßz (the equation for epidemiology = how effective diseases spread)
  • Viral Rank = measures the “social production rate” of media and is measurement metric that exists in real-time
  • Maximization of Content Spread = we starve content that isn’t getting traction, and fuel the content that is taking off
  • BuzzFeed also uses machine learning to predict social hits so they know
  • Twitter has a half-life of about an hour
  • Facebook has a half-life of about a day
  • Pinterest has a half-life of about a week
  • “Our technology is made for social.” Measuring the social lift.
  • BuzzFeed uses dashboards to help editors train their intuition of what might work.
  • We behave very differently depending on the context. Content spreads differently on different platforms.
  • Google is very informational (about the information), Facebook is about connecting people (through information?), Facebook is much more emotional
  • “Humor is inherently social.” When you meet people and somebody jokes, nobody remembers the joke the next day, only that they laughed hard
  • BuzzFeed has buttons for emotions. *I think it actually helps them to channel their emotion and become more aware, thus more willing to share. “If I LOLed so hard, I should send it to my friends.”
  • Once people are reacting, they are much more likely to share -> make simple to react
  • Good news for journalism: “Aggregation worked for search, but Scoops & Quality Reporting work for Social” -> Google can’t tell the difference between the rewrite and the original scoop, but on Twitter people can tell which one is the original. They will retweet the original scoop.
  • Publishing is now a Paris Café (!!!) – You can read the Le Mond, you can pet a dog, because its cute and you can flirt with somebody. Buzzfeed tries to serve all our emotional needs.
  • Lets embrace ALL the things that make us human.
  • “Edit was first, but now the big shift to social is coming to advertising”
  • At Buzzfeed, 100% of revenue is social content marketing
  • No banner ads on BuzzFeed.
  • Brands are held to a higher bar where they must have content that people actually want to click on and read
  • It all works through the same CMS
  • Editors never touch brand content, but brands have to learn how to work as publishers / editors
  • Brands get a dashboard that shows how much earned media they are getting
  • Social can make ads great again. In the Mad Men era advertising didn’t need to cram ads into a banner, they had a whole page
  • Social can hold advertising to a new bar
  • It’s better to think long-term
  • Have a heart, having emotional is important
  • Identity: People share stuff because it’s about them
  • Something that everybody like a little gets shared less than something that only a small percentage like a lot.
  • If you can publish into the zeitgeist, you can publish into what people are talking about and you can capture the moment …
  • Nostalgia is also very social
  • Porn only works for search, not for social.
  • “The banner ad was a historical accident and we are moving past it.”
  • EQ is as important as IQ.