Reddit simply wrapped up its second earnings name as a public firm and CEO Steve Huffman hinted at some important adjustments that could possibly be coming to the platform. Through the name, the Reddit co-founder stated the corporate would start testing AI-powered search outcomes later this 12 months.
“Later this 12 months, we are going to start testing new search consequence pages powered by AI to summarize and suggest 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 exams 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 major alternative to usher in new customers. He additionally stated that search might at some point be a major supply of promoting income for the corporate.
Huffman hinted at different non-advertising sources of income as properly. He advised that the corporate would possibly experiment with paywalled subreddits because it seems to be to monetize new options. “I believe the present, altruistic, free model of Reddit will live on and develop and thrive simply the best way it has,” Huffman stated. “However now we are going to unlock the door for brand spanking new use circumstances, new varieties of subreddits that may be constructed which will have unique content material or non-public areas, issues of that nature.”
A Reddit spokesperson declined to elaborate on Huffman’s remarks. However it’s no secret the corporate has been eyeing new methods to increase its enterprise since going public earlier this 12 months. It’s struck multi million-dollar licensing offers and , and engines like google 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 consumer 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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