Reddit CEO Steve Huffman has hinted that in future some subreddits could be paywalled, as the company seeks to devise new sources of income.
He suggested that the company might experiment with paywalled subreddits as it looks to monetize new features. “I think the existing, altruistic, free version of Reddit will continue to exist and grow and thrive just the way it has,” Huffman said. “But now we will unlock the door for new use cases, new types of subreddits that can be built that may have exclusive content or private areas, things of that nature.”
This is another move likely to anger Redditors. While the platform is a commercial enterprise, its value derives almost entirely from freely offered user content. That means Redditors feel at least some sense of ownership in a community endeavour, so the company needs to tread carefully when it comes to monetization at user expense.
Why are they trying to re-invent social media monetization schemes instead of incorporating already existing ones that are value-adds?
I could easily see a ‘reddit marketplace’ work well for them (i’d never fucking use it but i’m betting a bunch of people would), and it would drive more traffic to the site and lure more advertisers. Better than facebook marketplace, which requires real personal information to use, or craigslist, which feels a little too seedy and un-moderated for the faint-of-heart. Reddit could leverage their reputation for being a place for passionate hobbyists and even provide users a way to make their own income from their reddit activity.
Milking your users for paid-content seems over-the-top obnoxious when they absolutely had more options before needing to resort to that. What a trash company.