Reddit is getting bigger.

Reddit’s advertising revenue grew to $315.1 million, while “other” revenue reached $33.2 million on account of “data licensing agreements signed earlier this year.” Both Google and OpenAI have cut deals with Reddit to train their AI models on its posts.

In a letter to shareholders, Reddit CEO Steve Huffman attributed the recent increase in users to the platform’s AI-powered translation feature. Reddit started letting users translate posts into French last year before expanding to Spanish, Portuguese, Italian, and German. Now, Huffman says Reddit plans to expand translation to over 30 countries through 2025.

    • Jure Repinc@lemmy.mlEnglish
      4·
      2 months ago

      Well and behind it is stealing other peoples’ work (posts and comments, moderation and administration) and selling them as yours. The oldest capitalist criminal trick in the book: privatization AKA primitive accumulation AKA enclosure of the commons.

      • SturgiesYrFase@lemmy.ml
        1·
        2 months ago

        I mean, to be fair, I’m nearly positive that the Reddit T&Cs will have said they retain rights to anything posted there for ages. And the AI bubble is already showing signs of deflation or bursting coming not too far down the line. Let them enjoy their first and hopefully only profitable year.

        • Kichae@lemmy.caEnglish
          2·
          2 months ago

          No one is arguing that they don’t have the legal right.

          But they believe they have the moral right, and they do not.

      • Sabata@ani.social
        3·
        2 months ago

        It’s almost like human communication is not supposed to be a product or something…

  • barsoap@lemm.ee
    13·
    2 months ago

    removed Spez

    (Hey noone else said it in this thread so I think I have to)

  • CanadaPlus@lemmy.sdf.org
    10·
    2 months ago

    Boo!

    Whatever, this is far from the end of the story, and Lemmy has nothing but time. The bigger they are, the harder they fall in the end.

    • realitista@lemm.ee
      8·
      2 months ago

      I vividly remember the Digg migration and Reddit is so very much like Digg these days.

    • lud@lemm.ee
      3·
      2 months ago

      Lemmy has nothing but time.

      Isn’t Lemmy decreasing in numbers?

      • CanadaPlus@lemmy.sdf.org
        1·
        2 months ago

        Not that I’m aware of. AFAIK nobody collects hard long-term data right now, and I’m actually working actively on a system to do it.

        Just based on me peaking at current federation stats every once in a while, .world has grown relative to the niche but early-arriving .ml/heaxbear/lemmygrad sphere, which makes me think it’s growing overall.

    • realitista@lemm.ee
      6·
      2 months ago

      It won’t be long before the internet is just bots talking to each other and advertisers paying them to do so.

  • NastyNative@mander.xyzEnglish
    4·
    2 months ago

    Just as we are all leaving for Lemmy. Reddit now makes you have an account to access some of their removed. Good riddance!

  • kibiz0r@midwest.socialEnglish
    4·
    2 months ago

    A couple months ago, I logged into an old Reddit account. It only took a few minutes of scrolling before it happened.

    I had to scroll back up and try again, and record my screen so I could doublecheck my count later.

    35 ads or “recommended” posts (i.e. not from anything I subscribed to) in a row.

    I’m curious what that means for the overall percentage of the average user’s feed.

    Edit: Okay yall… I appreciate all of the free technical support, but it’s really not needed. I was just documenting some findings.

    But since everyone is so concerned about improving my Reddit experience, here are a few things to consider:

    • I’m a mobile dev, so I don’t mind enduring a removedty UX for the sake of finding out what other companies are doing with their apps. If I’m going in with a mindset of curiosity, it really doesn’t bother me. In fact, I want to see the worst parts.
    • Even if I had been going in just to have a pleasant scrolling experience, the reason I opened Reddit at all is because my wife had my phone for a while (due to toddler nonsense, we had swapped phones and she was stuck sitting in the hallway for a few minutes) and she had decided to open the app, so the decision of app vs. website was kinda made for me already.
    • Even if she had considered using the website instead, I wasn’t logged in because I only use private browsing (again, mobile dev, so when testing web flows I like to make sure there is no saved web data).
    • Even if I was already logged in, it’s an iPhone. While I do use an ad-blocker, the ad-blocking capabilities of Safari are pretty limited, so I’m not sure it would’ve improved much.
    • Even if I was on Android, I’d probably still not have any extensive ad-blocking enabled, because I want to stay relatively vanilla in my setup to reduce confounding factors when testing.
    • Even if there was a genuine opportunity here for my setup to be improved… I didn’t ask for that, and swarming people with “have you considered doing it the right way?” when they’re just making a basic observation doesn’t create a great atmosphere for the overall Lemmy experience.
    • qupada@fedia.io
      6·
      2 months ago

      Indeed, you will note that they carefully chose the moniker “Daily Active Uniques” and not “Daily Active Users”.

      I think that speaks volumes, as humans are definitely harder to retain.

      • darreninthenet@lemmy.sdf.orgEnglish
        2·
        2 months ago

        It cannot - more and more content is coming from AI so they are just “relearning” what one of the AI platforms has already produced… the endgame of that is convergence on nothing new being produced from AI

  • Megaman_EXE@beehaw.org
    2·
    2 months ago

    Such a shame it turned out the way it did, but the writing was on the wall. Every single reddit announcement thread was a removed show aha. I guess in a way they were transparent about only being in it for the money. Their actions were always consistent