Reddit’s CEO, Steve Huffman, has stated that the company is considering various methods to generate revenue, including the possibility of implementing a paywall for certain subreddits.
At the conclusion of its second earnings call, Reddit’s CEO shared upcoming plans for the social media platform. Huffman announced the introduction of AI-driven search results later this year, as well as the possibility of implementing a subscription fee for certain subreddits.
According to Engadget, Reddit’s CEO, Huffman, believes that the current altruistic and free version of the platform will continue to flourish. However, the company plans to introduce new features that will allow for the creation of exclusive content and private areas, opening up possibilities for new types of subreddits to be built.
According to him, in the upcoming months, we will initiate trials for AI-driven search result pages that can provide summaries and suggestions for content. This will assist users in exploring products, shows, games, and finding new communities on Reddit.
The previous instance in which Reddit disclosed similar intentions resulted in turmoil within the community. If you are not familiar, Reddit implemented charges for API usage, leading to the closure of numerous third-party apps.
The actions were met with strong disapproval from Redditors, resulting in widespread demonstrations and a shutdown of popular subreddits such as r/funny, r/science, r/gaming, r/aww, and r/Music.
According to reports, Reddit has entered into a partnership with Google in February, as part of their efforts to increase their profits. This agreement would enable Google to utilize posts and comments for the purpose of training their AI technology.
In July, the company continued to restrict search engines like Bing from accessing the site’s posts and comments unless they entered into commercial agreements. This action follows a previous decision to block Microsoft from searching the site without payment, as reported by Bloomberg.
Related Articles:
Discord Faces Lawsuit for Making Nitro Subscription Cancellation “Challenging”
23:08
Florida Governor Enacts Law Prohibiting Social Media Access for Children Under 14
21:20
Scuf Launches Limited Edition Squid Game Xbox Controllers, One Model in High Demand
10:50
Leave a Reply