The deal to sell UGC is said to be worth about $60 million on an annualized basis, and most likely absolutely nothing will go to the users who generated these content. Should users be compensated for it? I feel like we should. How or how much we should be compensated for it? idk, but hopefully not just more karma!

https://www.theverge.com/2024/2/17/24075670/reddit-ai-training-license-deal-user-content

Reddit has a new AI training deal to sell user content

The deal to sell UGC is said to be worth about $60 million on an annualized basis, and most likely absolutely nothing will go to the users who generated these content. Should users be compensated for it? I feel like we should. How or how much we should be compensated for it? idk, but hopefully not just more karma!  https://www.theverge.com/2024/2/17/24075670/reddit-ai-training-license-deal-user-content

Derek

I was among those that were skeptical about the social media firm’s prospects in the public markets. But it has taken off like a rocket, its stock up 381% from its IPO price in March.

Todd Smith

Curious why Reddit has not announced more data deals with AI model companies? It’s been building a search product based off its own data. The company’s Reddit Answers service will use a custom AI chatbot to answer user queries. Given that Reddit’s huge bounty of human questions, answers, and commentary is nearly without compare online today, conserving the value inside its own walls instead of selling them for pennies is a bold move but not one without risks. Google, after all, is a key source of Reddit traffic.

https://redditinc.com/blog/introducing-reddit-answers

Curious why Reddit has not announced more data deals with AI model companies? It’s been building a search product based off its own data. The company’s Reddit Answers service will use a custom AI chatbot to answer user queries. Given that Reddit’s huge bounty of human questions, answers, and commentary is nearly without compare online today, conserving the value inside its own walls instead of selling them for pennies is a bold move but not one without risks. Google, after all, is a key source of Reddit traffic.  https://redditinc.com/blog/introducing-reddit-answers

Introducing Reddit Answers

Tasia

42% now to $116!  Reddit shares have now risen 241% since its IPO in March.

Social media company Reddit posted its first profit as a public company in the third quarter, along with much higher revenue and adjusted earnings before interest, taxes, depreciation and amortization than executives had projected. Shares soared more than 20% in after-hours trading.

The company reported net income of $29.9 million on revenue of $348.4 million, marking its first profitable quarter as a public company following its initial public offering in March. Revenue rose 68% from the year-earlier period. Third-quarter EBITDA totaled $94.1 million, 57% higher than the top of the range that executives had projected three months earlier.

Reddit, which has historically made most of its revenue from selling ads on its website, has mounted a recent push to diversify in part by licensing user-generated content on its site to search engines and generative artificial intelligence model-builders, including Google and OpenAI. Reddit’s ad revenue grew by 56% year-over-year to $315.1 million, reflecting its efforts to target small and medium-sized advertisers. “Other revenue,” which includes its data licensing partnerships as well as sales of premium subscriptions to Reddit users, grew more than five-fold to $33.2 million, but remains less than 10% of overall revenue.

It’s unclear how much OpenAI is paying Reddit. CEO Steve Huffman had said in August that Reddit’s second-quarter results did not include much of the benefit of the OpenAI licensing deal, which was announced in May. Tuesday, he said Reddit had signed a licensing deal with data aggregator Meltwater. He called licensing a “nice-to-have” business for Reddit, emphasizing the importance of ad sales to Reddit’s future.

https://www.reuters.com/technology/reddit-forecasts-quarterly-revenue-above-estimates-2024-10-29/

Social media company Reddit posted its first profit as a public company in the third quarter, along with much higher revenue and adjusted earnings before interest, taxes, depreciation and amortization than executives had projected. Shares soared more than 20% in after-hours trading.  The company reported net income of $29.9 million on revenue of $348.4 million, marking its first profitable quarter as a public company following its initial public offering in March. Revenue rose 68% from the year-earlier period. Third-quarter EBITDA totaled $94.1 million, 57% higher than the top of the range that executives had projected three months earlier.  Reddit, which has historically made most of its revenue from selling ads on its website, has mounted a recent push to diversify in part by licensing user-generated content on its site to search engines and generative artificial intelligence model-builders, including Google and OpenAI. Reddit’s ad revenue grew by 56% year-over-year to $315.1 million, reflecting its efforts to target small and medium-sized advertisers. “Other revenue,” which includes its data licensing partnerships as well as sales of premium subscriptions to Reddit users, grew more than five-fold to $33.2 million, but remains less than 10% of overall revenue.  It’s unclear how much OpenAI is paying Reddit. CEO Steve Huffman had said in August that Reddit’s second-quarter results did not include much of the benefit of the OpenAI licensing deal, which was announced in May. Tuesday, he said Reddit had signed a licensing deal with data aggregator Meltwater. He called licensing a “nice-to-have” business for Reddit, emphasizing the importance of ad sales to Reddit’s future.  https://www.reuters.com/technology/reddit-forecasts-quarterly-revenue-above-estimates-2024-10-29/

Reddit on Tuesday reported its first quarterly profit and forecast fourth-quarter revenue above estimates, helped by its AI content licensing deals and strong digital advertising spending, sending its shares up 22% in extended trading.

Reddit shares jump 22% as AI deals boost quarterly revenue forecast

Cyril

Reddit’s adding AI-powered search after making deals with OpenAI and Google. The social platform ended Q2 with its shares up 60% from its March IPO and daily users up 51% from last year.

https://techcrunch.com/2024/08/06/reddit-ai-powered-search-results/

Reddit’s adding AI-powered search after making deals with OpenAI and Google. The social platform ended Q2 with its shares up 60% from its March IPO and daily users up 51% from last year.  https://techcrunch.com/2024/08/06/reddit-ai-powered-search-results/

Reddit users will soon see AI-generated summaries at the top of search results.  Reddit co-founder and CEO Steve Huffman told investors during its Reddit plans to test AI-powered search result pages t

Derek

A group of likeminded people in Artificial Intelligence are talking about this.