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
I wish I spent 1hr annually on any social media platform to accept happy birthday greetings.
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
Yes. This forums is a̷l̷r̷e̷a̷d̷y̷ ̷b̷e̷t̷t̷e̷r̷ than any Apple-related subreddit imho.
"They'll probably turn profitable by next year."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.
