CEO Steve Huffman told me in an interview last week, “90-plus percent of Reddit users are on our platform, contributing, and are monetized either through ads or Reddit Premium. Why would we subsidize this small group? Why would we effectively pay them to use Reddit but not everybody else who also contributes to Reddit?”
It’s called a “loss leader,” Steve.
Dude’s sounding like the kind of guy that cuts IT, security, and janitorial because they don’t bring in revenue. But then, he did say he’s following the Musk model. Which is, basically, that.
90-plus percent of Reddit users are on our platform, contributing, and are monetized either through ads or Reddit Premium
I wonder how many of those reddit premium members have cancelled their subscriptions. I know I did. I had premium for years as it seemed like a good way to give a little bit back to a site I was using multiple times a day, every day. As soon as Spez started his bullshit I cancelled it and won’t be back.
All they had to do was offer API keys with Reddit Premium. Plug-and-play into your 3rd-party-app of choice. Can’t believe those dum-dums chose to kill off their golden goose instead.
All the 3pa’s shut down business the moment the actual API prices were announced. This wasn’t a protest move, the prices were simply 20 times higher than what they were promised and impossible to work into their business model. Reddit couldn’t have overcharged and continued as normal - it was a deliberate move to kill off 3pa while pretending they are not. Reddit COULD have charged this API price to users directly via Reddit Premium, but failed to do so.
It’s called a “loss leader,” Steve.
Dude’s sounding like the kind of guy that cuts IT, security, and janitorial because they don’t bring in revenue. But then, he did say he’s following the Musk model. Which is, basically, that.
someone should have shown this graph to the dipshits in charge
I wonder how many of those reddit premium members have cancelled their subscriptions. I know I did. I had premium for years as it seemed like a good way to give a little bit back to a site I was using multiple times a day, every day. As soon as Spez started his bullshit I cancelled it and won’t be back.
All they had to do was offer API keys with Reddit Premium. Plug-and-play into your 3rd-party-app of choice. Can’t believe those dum-dums chose to kill off their golden goose instead.
I suspect they could’ve overcharged still, but just shut their mouths and continued as normal. Each new tactic is awful and self harming.
All the 3pa’s shut down business the moment the actual API prices were announced. This wasn’t a protest move, the prices were simply 20 times higher than what they were promised and impossible to work into their business model. Reddit couldn’t have overcharged and continued as normal - it was a deliberate move to kill off 3pa while pretending they are not. Reddit COULD have charged this API price to users directly via Reddit Premium, but failed to do so.