this post was submitted on 11 Jun 2023
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Reddit announced new ad features on Friday (www.redditinc.com)
submitted 1 year ago by [email protected] to c/[email protected]
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“We’ve known for over a decade that people come to Reddit to talk about the products they love – take r/BuyItForLife for example, a community of over 1.5 million redditors who have been sharing recommendations and advice about their lifelong, must-have purchases since 2011. These updates will uplevel the search-and-discover experience for both brands and our users by tapping into our differentiated value as a hub for actionable conversation”

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[–] [email protected] 2 points 1 year ago (1 children)

Even if they lose 50% (unlikely) the changes they make will still be more lucrative for them. The people who leave are probably not their most profitable demographic in the first place. The new API fees will easily make up for that. Twitter was the same .. as much as people predicted it's demise it's more profitable now than it ever was.

I'm just hugely happy and grateful to the people behind Lemmy whose hard work and unselfish behavior allowed us all to benefit.

[–] [email protected] 3 points 1 year ago

I believe (and somewhat hope) that the n% of users leaving over this are mostly prosumers, leaving Reddit with mostly consumers. The, say, 5% of users leaving might be the ones who create >70% of the quality content the consumers browse Reddit for.

Given that Reddit relies on prosumers like them for 100% of its value, that would be a huge blow.