12mo ago

Reddit Falls Short of Ad Growth Targets Ahead of Likely 2024 IPO

www.theinformation.com Reddit Falls Short of Ad Growth Targets Ahead of Likely 2024 IPO

If the market for initial public offerings recovers in the new year, one company that aims to go public early on is Reddit. An IPO will put the spotlight on the prospects for Reddit’s advertising business, which has fallen short of ambitious growth targetsoutlined by executives two years ago. ...

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2024 is literally a year of leaving Reddit for Lemmy.
- Because 2023 wasn't?
  To elaborate: what Reddit did this year wasn't enough for a (major) mass migration. I very much doubt even more ads will deter those that have stuck around so far. Perhaps there'll be a trickle, but I don't see anything happening like what was the case for Digg back in the day.
  
  This will trigger an enshittification cycle.
  Underperformance per-quarter resulting in anti-user actions to increase profits.
  
  Users leave because of anti-user actions.
  
  Profits will decrease as users leave until the end of quarter.
  
  Return to Step 1.
  
  This sounds like accelerationism. 🤣
  The thing is, I'm pretty sure you nailed it.
  
  I mean it will help Lemmy. But It certainly will result in more EEE attempts on the fediverse.
  
  We just gotta make like Naruto when he's learning to hijack the kyuubi chakra for himself!
  
  Smaller instance admins are ready for defederating big websites in the event of adopting ActivityPub. Bluesky server owners should have the power to filter out content and defederate from other servers.
- i sure hope so, it's time for the next great migration!

383 comments