Reddit API charges: Reddit announced it would begin charging for use of its API, specifically for companies that crawl Reddit for data without providing any value back to the users. This change does not apply to developers building apps and bots that enhance the Reddit experience, or to researchers using the API for academic or noncommercial purposes. Reddit’s move is tied to its attempt to monetize the vast array of user-generated content on its platform, which includes data used to train text-generating machine learning models like OpenAI’s ChatGPT. This announcement comes as Reddit is preparing for a potential IPO later this year. It is estimated that Reddit made $350 million from ads in 2021, a figure that pales in comparison to Meta’s and Twitter’s ad revenues Reddit will begin charging for access to its API | TechCrunchReddit will begin charging for access to its API | TechCrunchReddit will begin charging for access to its API | TechCrunchReddit will begin charging for access to its API | TechCrunch.
Twitter’s “Ad-pocalypse”: Twitter saw a significant drop in advertising revenue in December 2022, with ad spending from top brands falling by 71% compared to the same month in the previous year. Major corporations have been pressuring Twitter over its decision to restore banned conservative accounts. There was a similar decrease of 55% in November 2022 compared to November 2021. Twitter relied on ads for 89% of its $5.08 billion revenue in 2021, so this decrease in ad revenue is likely a significant factor in Twitter’s estimated value reduction. Corporate advertising boycotts have often been used in the past to pressure social media platforms into adopting stricter censorship policies Adpocalypse 2.0: Twitter Ad Revenue Fell by 70 Percent in DecemberAdpocalypse 2.0: Twitter Ad Revenue Fell by 70 Percent in DecemberAdpocalypse 2.0: Twitter Ad Revenue Fell by 70 Percent in December.