Reddit Migration

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### About Community Tracking and helping #redditmigration to Kbin and the Fediverse. Say hello to the decentralized and open future. To see latest reeddit blackout info, see here: https://reddark.untone.uk/

founded 1 year ago

Maybe Reddit’s slowing revenue growth is partially responsible for the company trying to lock things down. - The Verge (www.theverge.com)

submitted 1 year ago by abff08f4813c@kbin.social to c/RedditMigration@kbin.social

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According to The Information, Reddit’s revenues were up 38 percent in 2022, but that’s down from the “more than doubling of revenue” it saw from 2020 to 2021. That said, The Information says Reddit still earned “about $670 million” in revenues last year. I don’t know if getting back the $10 million in “pure infrastructure costs” CEO Steve Huffman told me that it takes to support third-party apps is going to make all that much of a difference.

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[–] primmest@lemmy.world 4 points 1 year ago

COVID probably had way more to do with the difference in revenue than 3rd party apps. I know I wasted significantly more time browsing reddit in 2020 than any other year.