“Beginning in June, we will invite communities to submit ideas for projects, events, contests, giving, almost anything you can think of to bring people together for inspiration and delight,” Reddit said (via The Verge). Reddit is somewhat late to the party, given that creator funding programs already exist on platforms like Snap, Facebook, TikTok, YouTube, etc. Reddit’s pledge of $1 million is also relatively low considering Facebook’s billion-dollar creator funding. So while Reddit may be relatively new to creator funding, it has shown tremendous success with its community programs. The company’s ultimate goal would be to get more users and creators into the platform through this new funding program.
Reddit faces stiff competition from apps like TikTok
Reddit has tried to keep up with the changing social media landscape. Its official app broke into the scene a little too late, while the company made several visual changes to make it more accommodating to social media savvy users. We’re also learning that Reddit wants to utilize a video feature from TikTok. It’s unlikely to be the vertical scrolling feed, given that Reddit is mainly known for text and image content (or both). The Reddit mobile apps recently saw the inclusion of a Discover tab to encourage the exploration of new subreddits. It also contains a feedback mechanism to ensure the suggestions are continually improving. The company described it as “an easier way to explore current and new interests.” In January, the company announced advanced user blocking features considering the growing abuse on the platform. Reddit also pledged to develop “additional proactive measures” in the future to “reduce unwanted experiences.”
