Reddit is moving to “a logged-in-only experience,” CEO says
Summary
Reddit plans to test a login requirement in select markets outside the U.S. in Q4, CEO Steve Huffman said in a shareholder letter. The company says logged-in use could support ad targeting and user engagement as search referrals decline; it will use the tests to shape a possible global rollout.Key Facts
- Huffman said Reddit is shifting toward a primarily logged-in experience.
- Reddit plans to begin testing the login requirement in select non-U.S. markets in Q4.
- Huffman said Reddit's search referral traffic fell meaningfully in Q3, with logged-out and web traffic taking the largest hit.
- In October, search referrals declined by an average of more than 1 million per week, according to Huffman.
- Huffman said continued referral declines could lead Q4 daily active unique users to fall by a low-double-digit percentage from a base of 130 million.
- Reddit's average daily active unique users rose 12 percent year over year in Q3.
- Reddit reported Q3 net income of $283 million on revenue of $895 million.
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