Ramaphosa's energy plan Webinar banner

We'd like our readers to start paying for Daily Maverick

More specifically, we'd like those who can afford to pay to start paying. What it comes down to is whether or not you value Daily Maverick. Think of us in terms of your daily cappuccino from your favourite coffee shop. It costs around R35. That’s R1,050 per month on frothy milk. Don’t get us wrong, we’re almost exclusively fuelled by coffee. BUT maybe R200 of that R1,050 could go to the journalism that’s fighting for the country?

We don’t dictate how much we’d like our readers to contribute. After all, how much you value our work is subjective (and frankly, every amount helps). At R200, you get it back in Uber Eats and ride vouchers every month, but that’s just a suggestion. A little less than a week’s worth of cappuccinos.

We can't survive on hope and our own determination. Our country is going to be considerably worse off if we don’t have a strong, sustainable news media. If you’re rejigging your budgets, and it comes to choosing between frothy milk and Daily Maverick, we hope you might reconsider that cappuccino.

We need your help. And we’re not ashamed to ask for it.

Our mission is to Defend Truth. Join Maverick Insider.

Support Daily Maverick→
Payment options

BuzzFeed Lays Off 50 After Pandemic Hurts Lucrative Ad...



BuzzFeed Lays Off 50 After Pandemic Hurts Lucrative Ad Deals

By Bloomberg
23 Jul 2020 0

BuzzFeed Inc. laid off 50 of the 74 employees who were furloughed this spring as the digital media company struggles to replace lost revenue during the pandemic.

The cuts include 10 employees in BuzzFeed’s news division, as well as staff involved with its studio, sales and administration, the company said.

BuzzFeed lost some custom advertising deals in areas like hospitality and travel at the start of the pandemic, costing the company tens of millions of dollars in revenue. In addition, Amazon.com Inc. paused some affiliate deals. That meant that when BuzzFeed readers bought a beauty product via the site, for instance, the media company was no longer getting a cut of the sale.

The 50 jobs eliminated represent 5.7% of BuzzFeed’s U.S. staff. The New York-based company is covering health insurance through Sept. 30 for the former employees.

BuzzFeed’s efforts to reduce costs have also included pay cuts through the end of the year and breaking real estate leases in certain locations. The measures are expected to keep the company’s losses for the year under $20 million. At the start of the year, the company expected to turn a profit of about $30 million.

To contact the reporter on this story:
Gerry Smith in New York at [email protected]

To contact the editor responsible for this story:
Nick Turner at [email protected]


Please peer review 3 community comments before your comment can be posted