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Reddit Falls Short of Ad Growth Targets Ahead of Likely 2024 IPO
(www.theinformation.com)
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this post was submitted on 26 Dec 2023
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You’d have a point on any other platform. See, the unique thing about Reddit was that you could go there for OC. It’s basic business that you carve out a niche and you play that niche away from the competition. Reddit may not be doomed to fail but it is doomed to stagnate because it is competing closer with Facebook and Twitter and Instagram and news sites without decent ways to monetize and grow.
Investors like to see a unique market. Why is the platform retaining users? Moderation is on a downhill slide and these huge communities hardly feel organic.
Reddit is becoming Facebook + porn and the porn makes them no money. It’s actively unattractive to investors.
What sucks for them is that the users themselves cause this. OC is hard to make. Harder to highlight and celebrate. Reposts and news about politics and porn are 90% of the site. They get upvotes constantly. There’s an audience for that, but it has far less growth potential.
I would love to agree with you, and OC is certainly important to us, but the majority of the most upvoted content on Reddit hasn’t been OC for quite a few years now. I would guess Reddits serves most of its ads to people doom-scrolling the front page, and it probably likes it that way.
Yes but OC is what makes platforms unique and what makes them thrive. Facebook has the content of your friends and family. Twitter has the most recent words of celebrities and politicians. Instagram is similar.
Those platforms all have the same content as Reddit does. Reposts and news and memes aren’t unique to Reddit. So will Reddit fail and die? No. But Reddit isn’t as social. Why stay on Reddit if your friends aren’t on there to easily share content with? This is what TikTok does extremely well. It’s designed to share reposts and memes and news with friends easily even if few of them make OC. That’s the problem for Reddit. They’ve encouraged the wrong things with their platform and have not made it homogenous with the rest of the internet.