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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallBuzzFeed sold First We Feast, the independent media company behind Hot Ones, for $82.5 million in a deal that closed on December 12, 2024. The buyer was a consortium led by First We Feast founder Chris Schonberger and host Sean Evans, with Crooked Media, Mythical Entertainment, and Soros Fund Management among the investors. First We Feast said it would keep producing the show with Evans as host.
BuzzFeed described the sale as part of a shift toward programmatic advertising, affiliate commerce, and AI-enabled experiences. That is not the same as announcing that its content would become AI-generated: its public statements describe AI as a tool for technology, personalization, and operations, not a company-wide replacement for human-created content.
What BuzzFeed sold—and who owns Hot Ones now
BuzzFeed sold First We Feast, not the Hot Ones series as a separate asset. BuzzFeed announced that the $82.5 million all-cash sale had closed on December 12, 2024. BuzzFeed’s transaction announcement characterized the deal as a divestiture of the company that produces the show.
First We Feast’s announcement described the buyer as a consortium led by Schonberger and Evans. Crooked Media, Mythical Entertainment, and Soros Fund Management were among the investors, so it is inaccurate to describe Soros Fund Management as the sole buyer. First We Feast’s announcement said Schonberger became CEO, Evans became chief creative officer while continuing as host, and Sarah Honda continued in operations and as a co-executive producer of Hot Ones.
#1 Best Overall
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What changed for the show
First We Feast said it would retain its team and continue producing Hot Ones. The company reported more than 14 million YouTube subscribers and four billion lifetime views at the time of its December 2024 announcement; those are company-reported figures, not independently verified audience measurements here.
What BuzzFeed meant by an AI pivot
The phrase “AI-generated content” overstates what BuzzFeed announced. In a strategy letter, founder and CEO Jonah Peretti discussed generative AI and AI-powered interactive experiences, personalization, and improvements to content and advertising operations. BuzzFeed’s 2024 annual report described AI and machine learning as part of its technology stack and said it used AI to make owned properties more engaging, personalized, and efficient to operate. Neither source says BuzzFeed was replacing its overall content output with AI-generated material.
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- #1 SAUCE ON HOT ONES: The lead-off sauce for Hot Ones honors American hot sauce traditions. The Classic is an ode to this splashy style, with all-natural ingredients like tangy apple cider vinegar and grassy chile de arbol peppers. Quality makes a classic!
- HANDLE THE HEAT: 2/10 After sampling many of the world's best peppers we decided to go with Chile de Arbol, prized for its complex, fresh flavors.
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- ALL-NATURAL INGREDIENTS: Organic chile de arbol peppers, organic apple cider vinegar, organic vinegar, water, organic garlic, kosher salt, organic turmeric.
In its December 2024 sale announcement, BuzzFeed framed the transaction and a reduction of convertible debt as steps in a strategic transformation “positioned to fully benefit from the ongoing AI revolution.” That is the company’s stated ambition, not evidence that the strategy has succeeded.
Why BuzzFeed said it sold First We Feast
BuzzFeed presented the sale as a way to move away from lower-margin content products and focus on programmatic advertising and affiliate commerce. The company said the sale proceeds, together with a partial prepayment of convertible notes, left it with a cash balance greater than its remaining debt. These are BuzzFeed’s claims about its rationale and financial position.
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Peretti’s strategy letter put numbers behind the two businesses BuzzFeed wanted to emphasize: it reported approximately $90 million in programmatic advertising revenue in 2023, and said retail partners generated more than $500 million in sales, producing approximately $50 million in BuzzFeed revenue that year. These are company-reported 2023 figures published in the 2024 letter, not forecasts or proof of future performance. Read Peretti’s strategy letter.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the companies’ directions differ
| Dimension | BuzzFeed | First We Feast |
|---|---|---|
| Ownership | BuzzFeed, Inc. retained its other businesses; the sale transferred First We Feast. | Independent company owned by a consortium led by Chris Schonberger and Sean Evans, with Crooked Media, Mythical Entertainment, and Soros Fund Management among the investors. |
| Stated business emphasis | Programmatic advertising and affiliate commerce across owned properties, supported by technology and AI-enabled experiences. | Creator-led media production, including Hot Ones, alongside brand partnerships and commerce products tied to its shows. |
| What the cited announcements establish | BuzzFeed’s stated strategy and reported financial figures; they do not establish whether the pivot will succeed. | Continued production of Hot Ones and the leadership roles announced at the sale; they do not establish future business performance. |
What this means for viewers and fans
The ownership change did not, according to First We Feast’s announcement, end Hot Ones or remove Evans as host. The company also described Hot Ones sauces and Truth or Dab: The Game as extensions of its show-related commerce. Its announcement did not provide current stock, retailer listings, or affiliate terms, so those details should be checked with the seller before purchase.
First We Feast said it would continue offering brand partnerships and advertising integrations and planned to expand ways for partners to engage with audiences. It did not announce specific terms for those opportunities.
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