Reddit has always been a popular social media community, especially for users active in their respective fandoms. Whether the topic is news, writing, art, music, or anything under the sun; Reddit is a staple go-to for many netizens in search of entertainment or engaging conversations with fellow enthusiasts. By November 2018, Craig Smith of DMR reports that 330 million people around the world use Reddit, and from those people, 11 million posts are generated every month on average. For every particularly helpful post that a user creates, Karma points are rewarded, which are essentially bragging rights for a user's overall on-platform performance.
For many years, many have competed for the increase of Karma points. However, for many years, the score holds no merit aside from online reputation. But now, Reddit is planning on introducing a new feature that can significantly influence the proliferation of high-quality content: tipping. As opposed to Karma points which hold no monetary value, visitors will potentially have the option to tip a poster up to USD 100 in real-world money through a connected credit card.
The feature is still in its very early stage. It is still only available for a single user on a single subreddit, but the current process shows that 18.5% of any tip goes to Reddit and another small percentage to Stripe, which facilitates the payment. That could be a viable way to provide real-world payment for creators. It's still a very small trial, however, to observe how users will accept this and also to uncover early on what problems could potentially arise. It may take a while before Reddit is likely to broaden the test pool and receive more real-world responses.
The shift in Reddit's economy is packed with both positive and negative possibilities, but even so, this could be a good change for opportunists and marketers to look into.
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