Reddit is profitable for the first time ever, with nearly 100 million daily users
Reddit is profitable for the first time ever, with nearly 100 million daily users
Reddit is getting bigger.
Reddit says its daily users are up 47 percent year-over-year. Reddit just turned a profit for the first time. As part of its third-quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year.
Well that's too bad
Well looks like the great Reddit exodus wasn’t so great after all and Reddit more than made up for it. Financially at least, things are looking up for them. I kinda really wish it weren’t so… but at least some of us got to know Lemmy as a consequence.
Hard to say isn't it? If 100 users join and 80 leave you assume they are up 20 users. If the number of bot accounts that joined was 30 of those, they actually lost 10 users, and advertisements are selling more ads to computers than people. Unless we can separate real accounts from fake ones... It's all useless information
Doesn't matter to reddit as long as the advertisers still pay them though
On the whole it’s gone way downhill since the API fiasco in my opinion. The only thing worth a damn on Reddit nowadays is that some specific communities are better than elsewhere (sports, mental health, niche hobbies) but only because discussion boards (php) have mostly died and Facebook somehow manages to even MORE toxic as far as racism, sexism, etc.
It’s depressing. At one time Reddit on the whole as an entity (not the company, the community) was very vibrant and amazing.
I seriously doubt there are even half that many users these days. Go look at the posts and comments on the site now. They're all pointless drivel, and obvious bot posts designed to get other bots and rubes to comment. Stuff like "What is your favorite color and why" makes it to the front of the homepage with a hundred thousand upvotes. I mean come on! How could that be actual people?
I’ve been lurking that platform for over a decade and the quality has definitely gone downhill. The interactions with users are extremely inauthentic to the point where I suspect a large proportion of users aren’t even real people.
Reddit‘s business model is selling advertising views. I doubt it matters to them whether those views come from real people or machines.
The second aspect of their business model is selling content to train AI, which is basically free money these days from AI zealots, but the data quality is garbage.
Both of these revenue streams will dry up without a long-term sustainability plan. And even if I’m wrong, hey, I’m happy here. Their success does not diminish my happiness.
They will train their bots on my shitposts!
Cool, I like it here more.
From what I've heard, it also got a whole lot worse in terms of user experience, so I don't really care.
"Auster is the king of Mars!"
Source: myself