Reddit simply wrapped up its second earnings name as a public firm and CEO Steve Huffman hinted at some vital modifications that might be coming to the platform. In the course of the name, the Reddit co-founder stated the corporate would start testing AI-powered search outcomes later this yr.
“Later this yr, we’ll start testing new search outcome pages powered by AI to summarize and advocate content material, serving to customers dive deeper into merchandise, reveals, video games and uncover new communities on Reddit,” Huffman stated. He didn’t say when these assessments would start, however stated it could use each first-party and third-party fashions.
Huffman famous that search on Reddit has “gone unchanged for a very long time” however that it’s a big alternative to herald new customers. He additionally stated that search might at some point be a big supply of promoting income for the corporate.
Huffman hinted at different non-advertising sources of income as effectively. He prompt that the corporate would possibly experiment with paywalled subreddits because it seems to monetize new options. “I believe the prevailing, altruistic, free model of Reddit will live on and develop and thrive simply the best way it has,” Huffman stated. “However now we’ll unlock the door for brand spanking new use instances, new varieties of subreddits that may be constructed that will have unique content material or non-public areas, issues of that nature.”
A Reddit spokesperson declined to elaborate on Huffman’s remarks. But it surely’s no secret the corporate has been eyeing new methods to broaden its enterprise since going public earlier this yr. It’s struck multi million-dollar licensing offers and , and search engines like google and yahoo that aren’t paying the corporate.
“Some gamers within the ecosystem haven’t been clear with their use of Reddit’s content material, and in these situations, we block entry to guard Reddit content material and person privateness,” Huffman stated. “We need to know the place Reddit information goes and what it is getting used for, and so these are the phrases of engagement.”
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