Reddit is preparing to release new monetization methods for the millions of users on its platform, according to the company’s CEO, Steven Huffman, who described many new changes coming to the social platform.
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Huffman said during the earnings call that Reddit is working on a way users of the platform will be able to earn money, and that this method will be released later this year. More specifically, Huffman said that Reddit’s new monetization method will “empower our users to create and earn money on the platform this year” and that more details will be released in the “coming quarters.“
This wasn’t the only change mentioned by Huffman, as the CEO said officials have been looking at revolutionizing Reddit search, as behind the scenes, they are testing “new search result pages powered by AI to summarize and recommend content, helping users dive deeper.” Huffman was asked how Reddit plans on maintaining its unique online culture while also rolling out new features to the platform. Huffman said that in his experience as CEO, adding new ways of using Reddit won’t destroy what makes Reddit a popular platform.
According to Huffman, “the existing altruistic, free version of Reddit will continue to exist and grow and thrive just the way it has,” and the new monetization methods “unlock the door for new use cases, new types of subreddits that can be built, that may have exclusive content or private areas, things of that nature.“
