Reddit simply wrapped up its second earnings name as a public firm and CEO Steve Huffman hinted at some vital modifications that may very well be coming to the platform. In the course of the name, the Reddit co-founder mentioned the corporate would start testing AI-powered search outcomes later this yr.
“Later this yr, 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 mentioned. He didn’t say when these checks would start, however mentioned 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 mentioned that search may sooner or later be a major supply of promoting income for the corporate.
Huffman hinted at different non-advertising sources of income as nicely. He advised that the corporate would possibly experiment with paywalled subreddits because it seems to monetize new options. “I feel the prevailing, altruistic, free model of Reddit will live on and develop and thrive simply the way in which it has,” Huffman mentioned. “However now we are going to unlock the door for brand spanking new use instances, new kinds 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. Nevertheless it’s no secret the corporate has been eyeing new methods to develop its enterprise since going public earlier this yr. 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 person privateness,” Huffman mentioned. “We wish to know the place Reddit knowledge goes and what it is getting used for, and so these are the phrases of engagement.”