Reddit Suspends Plans for Paid Subreddits

• Reddit has halted the development of paid subreddits to focus on the core product.
• The company is emphasizing attracting new users and advertising.
• Advertising revenues significantly outweigh income from other sources.

This is reported by The Verge, Engadget.

The company Reddit has suspended its plans for creating paid subreddits, reported General Director Steve Huffman during a recent call about earnings. This decision has become part of a shift in priorities in the company's resources department.

Huffman noted that Reddit has decided to refocus on the development of the core product and additional search features, rather than on initiatives related to "economic users." This also includes work on paid subreddits, which, according to him, still remains prospective, but is no longer a priority. He confirmed that the team working on these initiatives is now directed towards improving the core Reddit experience.

According to his words, the main method of the company is attracting new users, while advertising revenues remain the most significant part of Reddit's business. In the last quarter, Reddit earned 465 million dollars from advertising, while revenues from other sources, such as paid access, barely reached 35 million dollars.

Tags: Technology