Buzznet Acquire AbsolutePunk.net: Joins Stereogum, Idolator and More.
Buzznet have been definitely on a buying spree lately, especially after obtaining $25 million in funding from companies such as Universal. Previously, Buzznet purchased Stereogum, Idolator, Qloud and started Videogum. This time they have purchased another music site, Absolutepunk.net.
Personally, im not too sure about the approach of Buzznet. Buzznet are trying to position themselves as the one stop music destination. Instead of maximising their own site first, they have received funding and are trying to buy marketshare. Why not simply find a better monetization strategy then just Google Adsense!! Im sure Buzznet will not be receiving a high click through rate with Adsense, so why not try to find a premium CPM based network instead?
