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Reddit is profitable for the first time ever, with nearly 100 million daily users (www.theverge.com)

submitted 1 month ago by alyaza@beehaw.org to c/technology@beehaw.org

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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.

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[–] CanadaPlus@lemmy.sdf.org 14 points 1 month ago* (last edited 1 month ago) (2 children)

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 11 points 1 month ago (1 children)

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

[–] ililiililiililiilili@lemm.ee 3 points 1 month ago* (last edited 1 month ago)

09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88 C0

[–] lud@lemm.ee 3 points 1 month ago (1 children)

Lemmy has nothing but time.

Isn't Lemmy decreasing in numbers?

[–] CanadaPlus@lemmy.sdf.org 1 points 1 month ago* (last edited 1 month 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.