Reddit says its daily users are up 47 percent year-over-year. Reddit just turned a profit for the first time. As part of its third-quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year.

  • vxx@lemmy.world
    link
    fedilink
    arrow-up
    7
    ·
    edit-2
    6 hours ago

    Traffic in big subreddits dropped up to 30% whenever there was some news that another huge botfarm was busted.

    Edit:

    Or when Russia is busy starting a war. Completely natural pattern there. The screenshot is from 2022

  • Jure Repinc@lemmy.ml
    link
    fedilink
    English
    arrow-up
    4
    ·
    edit-2
    4 hours ago

    Well and behind is is stealing other peoples’ work (posts and comments, moderation and administration) and selling them as yours. The oldest capitalist criminal trick in the book: privatization AKA primitive accumulation AKA enclosure of the commons.

  • Abrinoxus@thelemmy.club
    link
    fedilink
    Svenska
    arrow-up
    3
    ·
    8 hours ago

    Of course they are having more users not just necessarily human users. Hope the advertisers get good value for what they spend /sarcasm

  • gcheliotis@lemmy.world
    link
    fedilink
    arrow-up
    43
    arrow-down
    1
    ·
    23 hours ago

    Well looks like the great Reddit exodus wasn’t so great after all and Reddit more than made up for it. Financially at least, things are looking up for them. I kinda really wish it weren’t so… but at least some of us got to know Lemmy as a consequence.

    • LifeInMultipleChoice@lemmy.dbzer0.com
      link
      fedilink
      English
      arrow-up
      34
      ·
      23 hours ago

      Hard to say isn’t it? If 100 users join and 80 leave you assume they are up 20 users. If the number of bot accounts that joined was 30 of those, they actually lost 10 users, and advertisements are selling more ads to computers than people. Unless we can separate real accounts from fake ones… It’s all useless information

        • shastaxc@lemm.ee
          link
          fedilink
          arrow-up
          1
          ·
          5 hours ago

          It will matter to Reddit in rhe long run if advertisers notice they aren’t getting as many clicks on their ads from Reddit as their metrics say they should be getting and then pull their ads off the platform and/or sue Reddit for falsifying metrics.

  • mysoulishome@lemmy.world
    link
    fedilink
    English
    arrow-up
    24
    ·
    23 hours ago

    On the whole it’s gone way downhill since the API fiasco in my opinion. The only thing worth a damn on Reddit nowadays is that some specific communities are better than elsewhere (sports, mental health, niche hobbies) but only because discussion boards (php) have mostly died and Facebook somehow manages to even MORE toxic as far as racism, sexism, etc.

    It’s depressing. At one time Reddit on the whole as an entity (not the company, the community) was very vibrant and amazing.