Reddit simply wrapped up its second earnings name as a public firm, and CEO Steve Huffman hinted that some large adjustments may very well be coming to the platform. Throughout the name, Reddit co-founders mentioned the corporate would start testing AI-driven search outcomes later this 12 months.
“Later this 12 months, we are going to start testing a brand new search outcomes web page powered by synthetic intelligence to summarize and suggest content material to assist customers study extra about merchandise, exhibits, video games and uncover new communities on Reddit,” mentioned Huffman . He didn’t say when these exams would start, however mentioned each first-party and third-party fashions could be used.
Hoffman famous that search on Reddit has been “unchanged for a very long time,” nevertheless it’s a big alternative to usher in new customers. He additionally mentioned search may sooner or later turn into an essential supply of promoting income for the corporate.
Hoffman additionally hinted at different non-advertising income streams. He prompt the corporate may strive a paid subreddit because it appears to be like to monetize new options. “I believe the prevailing, altruistic, free model of Reddit will live on, develop and thrive,” Huffman mentioned. “However now we will open the door to new use instances, new sorts of subreddits which are Might need unique content material or personal areas, and issues of that nature.”
A Reddit spokesperson declined to elaborate on Huffman’s remarks. Nevertheless it’s no secret that the corporate has been on the lookout for new methods to increase its enterprise since its inception. Listed earlier this 12 months. it struck multi-million greenback licensing offers and and Engines like google that don’t pay corporations.
“Some contributors within the ecosystem will not be clear about their use of Reddit content material, and in these instances, we block entry to guard Reddit content material and person privateness,” Huffman mentioned. “We need to know the place Reddit information goes and what it is getting used for, and people are the phrases of engagement.”
