Reddit simply wrapped up its second earnings name as a public firm, and CEO Steve Huffman hinted that some massive adjustments might be coming to the platform. In the course of the name, Reddit co-founders mentioned the corporate would start testing AI-driven search outcomes later this yr.
“Later this yr, we’ll 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 assessments would start, however mentioned each first-party and third-party fashions can be used.
Hoffman famous that search on Reddit has been “unchanged for a very long time,” however it’s a major alternative to usher in new customers. He additionally mentioned search may at some point develop into an essential supply of promoting income for the corporate.
Hoffman additionally hinted at different non-advertising income streams. He recommended the corporate may attempt a paid subreddit because it appears to monetize new options. “I believe the present, altruistic, free model of Reddit will live on, develop and thrive,” Huffman mentioned. “However now we will open the door to new use circumstances, new forms of subreddits which might be May need unique content material or personal areas, or one thing of that nature.”
A Reddit spokesperson declined to elaborate on Huffman’s remarks. However it’s no secret that the corporate has been searching for new methods to increase its enterprise since going public earlier this yr. It struck multimillion-dollar licensing offers with out search engines like google paying the corporate.
“Some contributors within the ecosystem will not be clear about their use of Reddit content material, and in these circumstances, we block entry to guard Reddit content material and consumer privateness,” Huffman mentioned. “We wish to know the place Reddit information goes and what it is getting used for, and people are the phrases of engagement.”
