Reuters: BuzzFeed, HuffPost, Digital Media, & Advertising

The buzz on digital media

Michael Ashley Schulman
3 min readApr 20, 2023

April 20, 2023 —

The buzz on digital media businesses and ad revenue

Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted by Reuters in an article — by Yuvraj Malik and Greg Bensinger, “BuzzFeed shutters news unit, cuts 15% of staff — regarding the outlook for digital media businesses and their competition for advertising revenue.

The article was also picked up by, Yahoo Finance, U.S. News & World Report, The Gazette, cnYES and Sino Trade (Taiwan), AA STocks (Hong Kong), and Channel News Asia (Singapore).

Buzzy Digital Media (still)— Graphic design by

Digital media challenges and opportunities

The digital media industry faces significant challenges due to the economic headwinds, many businesses cutting back on their advertising budgets, and the dominance of media platforms-like TikTok, Meta (including Facebook and Instagram), Amazon (including Echo/Alexa and Twitch), Alphabet (including YouTube, Google Play, and Google Ads), and Netflix (expanding with advertising based subscriptions)-that can offer massive audiences as well as micro-targeting.

Two key areas of media growth are in digital video and high-quality and engaging content, both of which are becoming increasingly popular formats for both advertisers and consumers; it seems this is where BuzzFeed/HuffPost will focus their efforts-probably a smart move!

Quoted article excerpt is below

“Advertisers are cautious with their spending and seeking ways to maximize efficiency and their return on investment,” said Michael Ashely Schulman, chief investment officer at Running Point Capital Advisors. “This has led to digital media companies fighting for a smaller pool of advertising dollars,” particularly in between U.S. political cycles and sporting events like the Olympics and World Cup.

In Chinese: Running Point 資本顧問公司投資長 Michael Ashely Schulman 表示:「廣告商對他們的花費很謹慎,力求能最大化效率和投資回報的方法。這導致數位媒體公司必須在更小的廣告市場上競爭,尤其是在美國政治週期和奧運會和世界杯等體育賽事之間。」

Buzzy Digital Media (gif) — Graphic design by


“What separates good content from great content is a willingness to take risks and push the envelope.”

~Brian Halligan, co-founder and Executive Chairperson of HubSpot

Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC ( Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Past performance is not indicative of future results. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-23-43

Originally published at on April 20, 2023.



Michael Ashley Schulman

Avid traveler and art fan, also Partner & Chief Investment Officer @Running Point Capital, a multifamily office and ultra high-net-worth money-management firm