• ruleman@feddit.nl
    link
    fedilink
    English
    arrow-up
    150
    ·
    1 year ago

    That’s not just any publication, it’s owned by Reddit’s largest shareholder. They must be worried.

    • can@sh.itjust.works
      link
      fedilink
      English
      arrow-up
      177
      arrow-down
      1
      ·
      1 year ago

      Reddit created a way to drive more people to its native apps (where Reddit shows ads and generates revenue) as of July 1. But we can’t overlook that Reddit was built on people’s willingness to provide free content and labor, and the API battle has driven away some of the most popular content and veteran volunteer mods.

      Reddit won the battle for API fees, but the war for desirable content—something no social media platform can ever be complacent about—is at risk. And that’s not the type of problem that ousted mods and forcibly reopened subreddits can fix.

      Advance Publications, which owns Ars Technica parent Condé Nast, is the largest shareholder in Reddit.

      This is too good.

    • lightrush@lemmy.ca
      link
      fedilink
      English
      arrow-up
      14
      arrow-down
      1
      ·
      1 year ago

      I’ll be damned. I had no idea Conde Nast owned it. That said I can see a more recent injection of $150M by Tencent too.