Hot Ones is taking its viral heat elsewhere.
Over a year into BuzzFeed’s quest to sell First We Feast, the operation behind the hit digital talk show, the studio has gotten the funding to buy its independence in a deal said to be worth eight figures. Thanks to the consortium of investors, led by founder Chris Schonberger and Hot Ones host Sean Evans — and including Crooked Media, Mythical Entertainment, Soros Fund Management and others — First We Feast will now operate as an independent media company and content studio.
Originally an off-shoot of Complex Media, First We Feast was brought under the BuzzFeed umbrella in 2021. The one-time digital behemoth, valued at $1.5 billion at the time of its IPO and now worth just $169 million, has long been trying to right the financial ship and had been seeking a buyer for First We Feast for a reported $70 million. In lieu of moving to another conglomerate, the brand will now operate under a new ownership structure intent on fueling existing and new content franchises and future partnerships and acquisitions down the line.
First We Feast will retain its team and continue to be led by the existing senior management, with First We Feast founder and Hot Ones creator Schonberger notably assuming the role of CEO and Evans named chief creative officer. Evans will, of course, continue to talk to celebrities on camera while they choke down chicken wings.
“What began as a humble food blog has evolved into a powerhouse multi-platform brand, amassing more than four billion views on YouTube, earning multiple Daytime Emmy nominations, and winning James Beard Awards,” Schonberger said in a statement. “With new investment, we’re poised to expand into exciting new areas — including new platforms, live events, and talent acquisition — cementing First We Feast as the ultimate destination for pop culture–obsessed audiences. I’m thrilled to lead this next chapter as we continue to push boundaries and create unforgettable experiences for our audience.”
Speaking of live events, Hot Ones and Netflix were in discussions for live shows as recently as September. The show’s popularity (and value to First We Feast) cannot be understated. It is now considered a top booking on many A-listers’ press tours and is easily responsible for the bulk of the more than 14 million subscribers on First We Feast’s YouTube channel. That channel has netted four billion views since its launch.
“As we approach the 10th anniversary of Hot Ones next season, I’m constantly amazed by the passion and loyalty of our fans, who have made this journey so special, “ added Evans. “Not only is Hot Ones a hit show, but it’s an experience — a cultural touchpoint that audiences want to be a part of, whether they’re watching, tasting the sauces, or sharing in the challenge with friends. I’m excited to continue hosting ‘the show with hot questions, and even hotter wings’ for years to come. The future is spicy, and I can’t wait to see what’s next.”
The “experience” he speaks of isn’t even hyperbole. Hot Ones has its own line of hot sauces and an ongoing parade of partnerships with the likes of McDonald’s, Stella Artois and Panda Express.
First We Feast kicks off its new era with its Annual Hot One’s Holiday Extravaganza on December 19 and a new season, its 26th, launching January 23.
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