Reddit simply wrapped up its second earnings name as a public firm and CEO Steve Huffman hinted at some vital modifications that might be coming to the platform. Through 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 end result 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 assessments would start, however mentioned 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 mentioned that search might at some point be a major supply of promoting income for the corporate.
Huffman hinted at different non-advertising sources of income as nicely. He urged that the corporate would possibly experiment with paywalled subreddits because it appears to monetize new options. “I believe the prevailing, altruistic, free model of Reddit will live on and develop and thrive simply the best way it has,” Huffman mentioned. “However now we are going to unlock the door for brand new use instances, new varieties of subreddits that may be constructed that 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 increase its enterprise since going public earlier this yr. It’s struck multi million-dollar licensing offers and , and search 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 cases, we block entry to guard Reddit content material and person privateness,” Huffman mentioned. “We need to know the place Reddit knowledge goes and what it is getting used for, and so these are the phrases of engagement.”