Reddit simply wrapped up its second earnings name as a public firm and CEO Steve Huffman hinted at some important 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 12 months.
“Later this 12 months, we’ll start testing new search end result 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 checks would start, however stated it will 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 herald new customers. He additionally stated that search may in the future be a major supply of promoting income for the corporate.
Huffman hinted at different non-advertising sources of income as properly. He instructed that the corporate may experiment with paywalled subreddits because it seems to be to monetize new options. “I believe the prevailing, altruistic, free model of Reddit will live on and develop and thrive simply the way in which it has,” Huffman stated. “However now we’ll unlock the door for brand spanking new use instances, new kinds of subreddits that may be constructed which will have unique content material or personal 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 12 months. It’s struck multi million-dollar licensing offers and , and serps 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 cases, we block entry to guard Reddit content material and consumer privateness,” Huffman stated. “We need to know the place Reddit knowledge goes and what it is getting used for, and so these are the phrases of engagement.”
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