Reddit simply wrapped up its second earnings name as a public firm and CEO Steve Huffman hinted at some vital modifications that could possibly be coming to the platform. Throughout the name, the Reddit co-founder mentioned the corporate would start testing AI-powered search outcomes later this yr.
“Later this yr, we’ll start testing new search consequence pages powered by AI to summarize and suggest content material, serving to customers dive deeper into merchandise, exhibits, video games and uncover new communities on Reddit,” Huffman mentioned. He didn’t say when these exams would start, however mentioned it might 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 usher in new customers. He additionally mentioned that search might someday be a big supply of promoting income for the corporate.
Huffman hinted at different non-advertising sources of income as nicely. He prompt that the corporate may experiment with paywalled subreddits because it seems to monetize new options. “I believe the present, altruistic, free model of Reddit will live on and develop and thrive simply the way in which it has,” Huffman mentioned. “However now we’ll unlock the door for brand new use circumstances, new forms 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. However it’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 cases, 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 so these are the phrases of engagement.”
