Reddit CEO Steve Huffman revealed plans to introduce significant changes to the platform during the company’s second earnings call as a public entity. One of the key updates will be the testing of AI-powered search results, which Huffman announced will begin later this year.
According to Huffman, the new search feature will utilize both in-house and third-party AI models to provide users with more accurate and relevant results. The goal is to help users discover new communities, products, and content on the platform. Huffman acknowledged that search on Reddit has remained largely unchanged for a long time, but believes it presents a significant opportunity to attract new users.
Huffman also hinted at the potential for search to become a substantial source of advertising revenue for the company. Additionally, he suggested that Reddit may explore alternative revenue streams, such as paywalled subreddits. This could involve creating exclusive content or private areas within subreddits, which would require users to pay for access.
Huffman emphasized that the existing free version of Reddit will continue to exist and grow, but the company is looking to unlock new use cases and features that can be monetized. A Reddit spokesperson declined to provide further details on Huffman’s comments, but it’s clear that the company is seeking to expand its business since going public earlier this year.
Huffman also addressed the issue of licensing deals and content usage, stating that Reddit wants to ensure transparency and protect user privacy. He noted that some players in the ecosystem have not been transparent about their use of Reddit’s content, and the company has taken steps to block access to protect its users and content.
