Digital publishers Buzzfeed and Vice Media are both set to miss their revenue targets for the year, according to reports. Buzzfeed had been aiming for revenue of $350m in 2017, but is now expected to fall short by as much as $70m. The company has also struggled with its advertising business, which saw a drop in revenues from $1.3bn last year to $960m this year. Meanwhile, Vice will miss its $800m target, though it's not known by how much. Other digital publishers are also struggling, with Mashable recently being sold for $50m, a fifth of its valuation in 2016.
Digital publishers Buzzfeed and Vice Media are both set to miss their revenue targets for the year, according to reports. Buzzfeed had been aiming for revenue of $350m in 2017, but is now expected to fall short by as much as $70m. The disappointing performance makes it unlikely that the company will go public in the near future. Meanwhile, Vice will miss its $800m target, though it's not known by how much. Other digital publishers are also struggling, with Mashable recently being sold for $50m, a fifth of its valuation in 2016.