I wonder if advertisers have been leaving Reddit and if so, how many? I've honestly never seen a social media website/company ask for advertisers like this tbh.
I'm not a lot on social media to begin with, so I'm not sure.
this post was submitted on 02 Jul 2023
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Well few days ago their valuation by I think Fidelity got cut from 10b to 5.5b. That should tell you something
That was before the whole clown show. The valuation cut was dated May 31st
Even better.
Steve Huffman just following the footsteps of Elon Musk, during a recent interview Spez said he liked what Musk was doing with Twitter.
Twitter has lost 59% of their advertisement sales since Musk bought it.^[1]
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Major woof if true. u/spez is a true business genius.
The cut was multi-staged and started middle of last year. The most recent cut was relatively small (10-15% iirc). As others have pointed out, that reduction doors not take into account the recent self-inflicted wounds.
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I've heard unsubstantiated claims that traffic to the advertiser portal has dropped ~40% since the protests started
I personally reached out to about a dozen advertisers, urging them to reconsider their marketing efforts on Reddit. After privatizing the subreddit I had moderated for 12 years, it seemed like the next logical step.
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I don't see social media companies do this, I see billboard companies do this. On billboards that stay "please advertise on our billboard" for years.
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A quote that always stuck with me was: "'Your ad here' signs are proof that the ad spot doesn't work well, otherwise someone would have put their ad there."
Am I wrong in thinking this is sad as hell? Like seeing an old faded billboard with the same "your ad here!" text that's been there for ages.
Sad, but I ain't mad. This is the bed that Wish.com "Elon" made for Reddit
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We should all club together and get some ads for the fediverse on there.
The best ad I saw for Reddit (back before the grand Digg migration) was one day, everyone agreed to stop posting direct links to articles and instead post the links to the Reddit discussions for said articles.
Suddenly, one day, the entire Digg feed was links to Reddit.
We should do the same thing (on say 8/1) to give time for the different federated instances to get accustomed to the higher traffic, more activity on the feed, and more people to welcome the future Reddit refuges, just like Redditors once welcomed us during the Digg 4.0 exodus.
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And give money to Reddit? Hell no. Let’s see how much time they take to refill those ad slots by themselves.
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Wait… Reddit has ads?
Hats off, that's both an argument for the use of third party apps and for eliminating third party apps at the same time...
Reddit gold ran the platform. Going for profit killed the API.
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I saw that on my few last days on Reddit. I was wondering about their rates b/c I was wondering what it would cost to take out an ad calling spez a complete twat.
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Your post made me think ads had already invaded. So, I hate you.
That's not going to happen on Lemmy. It is technically possible but it's very highly unlikely.
It's an unfortunate reality but that's probably going to have to happen. Instances can't be expected to grow and maintain on pure goodwill. Some might get by with donations but it's pretty known that Mastodon servers that couldn't support themselves on donations vanished. It's a huge ask for someone to pay money, time and effort to run a server for perpetuity. Usually you can only ask for 2 out of the 3 lol.
We already saw the original lemmynsfw get overwhelmed and just want to shut it down and hand it to someone else because they were having to put in so much work.
Hopefully because Lemmy is opt in in every sense, instance owners can do an ad setup that isn't intrusive or over bearing.
Otherwise it's just the big instances that are donation covered that stay and grow and Lemmy just becomes centralized around 5 servers or something.
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Having tried to use Reddit advertising for business (a national company), it really wasn’t very good. They had very poor targeting and algorithms.
I have a family member that runs their company digital advertising strategy. Said the same thing… and that it was hard to track conversions. They ended up pulling their ads.
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It’s fairly reasonable to assume advertisers are leaving. This isn’t one of those controversies that has two sides, it’s just Reddit being shitty because they want to make more money, and mods, users and disabled people on the other side being annoyed with Reddit.
There’s very little for advertisers to lose by redirecting their ad budget elsewhere, but if they stick around there’s a risk that annoyance spills over to them.
It also doesn’t take much for marketing teams to make a change - they do it all the time to stay on the right side of controversies and avoid things they don’t want to be associated with.
That was scary. Thought Lemmy had ads already!!
I’m fine with ads. It costs money to run servers and build out the platform.
I’m not fine with the absolutely sleezy way spez handled the api changes and the ridiculous price. Utterly disrespectful to the mods, third party app devs, and Reddit users.
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If you go to the URL in the ad and click on "get started," you will see something interesting:
An 800 number.
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Even in their ads for ads they have to get their content from their user base
I logged in to reddit on my computer the day after rif went dark, and there were noticeably fewer posts on the front page. I think only 8 or so posts were above 10k upvotes. I wouldn't be surprised if advertisers are pulling their ads in response.
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Step 1: Announce very unpopular changes Step 2: Ignore backlash, go through with the plan Step 3: Predictably, lose users and advertisers Step 4: ???? Step 5: Why advertise on reddit?
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This is embarrassing.
What a weak revenue stream. Imagine being a business, investing in a subreddit, only for the subreddit to be inundated by bots.
Reddit is going the way of Twitter and it's astounding to watch.
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You: why eat dog shit.
US : Yes.
Lol you know a website is running out of advertisement because they start promote their own website 😂 lol
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u/Spez is following Elon's playbook and it might start the downfall of Reddit
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First post on the page when I just started using wefwef. Thought I'd been invaded by ads already!
🤢
I guess there's a limit to how many ads the He Gets Us people will buy.
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Strong "Hello fellow kids" vibe
Ran out of advertisers, Why? Because we made some really "great" decisions at reddit!
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