Video-on-demand has been growing immensely over the past few years, with Netflix acquiring more than 40 million subscribers and other services showing impressive numbers as well. With all the original programming available, there’s certainly a lot for people to watch. And that’s exactly what Reddit is betting on.
VentureBeat has reported that the social page has launched a new video site, which provides original content based on stories that are shared throughout the site.
“Video is a pretty hot thing right now, and we wanted to get the best people we could to launch Reddit Video,” said Reddit founder Alexis Ohanian, speaking at the TechCrunch Disrupt event in New York City earlier today.
The site has been home to millions of users, engaging in community discussions and content sharing, as well as celebrities, authors and others hosting popular AMA sessions. It’s gathered more than 160 million monthly views in its ten years of existence, and that’s exactly the audience the company is banking on to make its video side popular.
Reddit recently took $50 million to help get video off the ground, and brought in two former video leads from The Verge, Stephen Greenwood and Jordan Oplinger, to help lead the charge.
Not only will the videos provide content for users to get interested in, but it could also open up a new way to generate revenue, since video-on-demand has shown that there’s money to be made.
As for what kind of programming Reddit has in mind, it didn’t go into too much detail, although videos that focus on the AMA (Ask Me Anything) are likely to come first, since celebrities and other types are so eager to take part in them and communicate with the vast community. More programming is likely to be introduced in the months ahead, depending on how successful the service is.