Reddit CEO Suggests Some Subreddits Could Be Paywalled

[vigilant]

Use to be a major contributor to Reddit but dropped off.

How many lines of fill in your blank drugs do you think they go through during board meetings when making decisions?

 

[profwafflez]

They did: https://github.com/LemmyNet/lemmy

I finally removed the bookmark from kbin a few weeks ago. Constantly down, infested with spam and then seemingly completely down indefinitely. I stopped checking if it was back up after 2 weeks, but it was so infested with spam it wasn't worth going back

 

[bigglow]

I wish there was a legit competitor to reddit

I wish I spent 1hr annually on any social media platform to accept happy birthday greetings.

 

[splifingate]

Social network Reddit could monetize by tucking some subreddits behind paywalls, Reddit CEO Steve Huffman suggested during the company's Tuesday earnings call (via Engadget).

Huffman said that Reddit plans to "unlock the door" for subreddits that could have "exclusive content or private areas."Huffman did not outright confirm that Reddit is going to charge for access to subreddits in the future, but that seems to be what he was hinting at.

Reddit also plans to test AI-powered search results later in 2024, with AI used to summarize and recommend content. Huffman said that the search tools would help "users dive deeper into products, shows, games and discover new communities on Reddit." Huffman believes that search could be a major source of advertising revenue going forward.

Reddit has already established deals with Google and OpenAI to allow the companies to train their AI models using Reddit content, and OpenAI's ChatGPT is now able to surface Reddit conversations in ChatGPT. Reddit attempted to reach a deal with Microsoft, but failed to do so, and later blocked Bing from accessing Reddit content.

Last year, Reddit started charging developers for accessing its API, which led to the shutdown of several popular Reddit clients, including Apollo. Apollo developer Christian Selig said that he would need to pay $20 million per year in fees to keep the app up and running, which was not feasible, and Reddit was not willing to work with him or provide a reasonable timeline to make changes.

Reddit began charging for API access ahead of when it became a public company in March 2024, and it continues to seek new ways to monetize content from its user base.

Article Link: Reddit CEO Suggests Some Subreddits Could Be Paywalled

I am gratified that I no longer fidget over such things.

As much as I was compelled to (and did) participate, I no longer do so.

SO, it's So.

Apart from a few special moments, I miss Red... about as much as I miss my 8 Grade year.

 

[Apple_Robert]

It’ll just make 3rd party sites like Macrumors forums stronger.

Can we handle being even more loveable and popular?

 

[Dancin-Ted-Danson]

And now Elon is laughably suing advertisers because they shockingly don't want their ads next to swastikas

Imagine not understanding what that lawsuit is about, and talking like you do

 

[Funny Apple Man]

It’ll just make 3rd party sites like Macrumors forums stronger.

Yes. This forums is a̷l̷r̷e̷a̷d̷y̷ ̷b̷e̷t̷t̷e̷r̷ than any Apple-related subreddit imho.

 

[Dancin-Ted-Danson]

Guess you haven't seen their earnings report from yesterday


Ever since Reddit started sellig more ads and lending its data to train Google's and OpenAI's A.I., it's losses have shrunk, they're still growing users, and they are generating free cash flow now.

Reddit Announces Second Quarter 2024 Results

Strong Q2 results, including both revenue and users each growing over 50% year-over-year Daily Active Uniques (“DAUq”) increased 51% year-over-year to 91.2 million Revenue increased 54% to $281.2 million, more than doubling growth rate from prior year Net loss reduced to $10.1 million. Positive...

investor.redditinc.com

• Daily Active Uniques (“DAUq”) increased 51% year-over-year to 91.2 million
• Weekly Active Uniques (“WAUq”) increased 57% year-over-year to 342.3 million
• Revenue increased 54% year-over-year to $281.2 million
• Ad revenue increased 41% year-over-year to $253.1 million, and Other revenue increased 691% year-over-year to $28.1 million
• Gross margin was 89.5%, an improvement of 530 basis points from the prior year
• Net loss was $10.1 million, as compared to net loss of $41.1 million in the prior year
• Adjusted EBITDA was $39.5 million, as compared to $(35.4) million in the prior year
• Operating cash flow was $28.4 million, an improvement of $82.5 million from the prior year
• Free Cash Flow was $27.2 million, capital expenditures were $1.2 million

They'll probably turn profitable by next year.

"They'll probably turn profitable by next year."

They haven't with the AI info sale... and that is a ticking time bomb before it isn't needed. Not a great outlook. If you can time this right, you will make a lot of money via puts

 

[nickp2517]

Reddit has become a safe haven for the far left-wing people out there. I stopped going to Reddit a year ago because the website is too clunky and their rules are just crazy. X all the way

 

[sjsharksfan12]

I just deleted my account again (I had last year, came back and decided I've had enough) the other night. That place is not fun, despite all the topics you can choose from. I know it shouldn't be a big deal, but the downvoting sucks and there are just bad takes. I feel like I can maybe be a happier person with Reddit out of my life.