Reddit restricting access to logged-in users due to Google AI Overviews impact.
Context
What happened: Reddit announced it will soon become a mostly logged-in-only experience, citing declining search traffic as one reason. CEO Steve Huffman said Google's AI Overviews "are not traffic drivers."
Key numbers: Reddit reported $895 million, up 53% year-over-year. Search traffic fell over 1 million referrals per week on average in October.
Why it matters: Huffman said search traffic was "down meaningfully in Q3," and Reddit is focusing on the logged-in experience, which it says is more lucrative for advertising because users can be more targeted.
Coverage: 3 outlets in 24h