- Reddit lost more than one million Google search referrals per week in October 2026, CEO Steve Huffman said.
- Reddit’s stock dropped more than 25% despite reporting strong earnings.
- Huffman attributes the traffic loss to Google’s AI Overviews and AI Mode, saying the shift affects the entire web, not just Reddit.
- Reddit is testing login walls outside the United States to curb scraping and reduce dependence on the open web.
What Happened
Reddit lost over one million Google search referrals per week in October 2026, CEO Steve Huffman said, according to The Decoder, published October 30, 2026. Reddit’s shares fell more than 25% despite strong quarterly earnings. Huffman said: “AI Mode does not drive traffic.”
Why It Matters
Huffman’s warning extends beyond Reddit to any site dependent on Google search traffic, a concern that echoes earlier findings that 93% of Google AI searches now end without a click to any website. Reddit had previously struck a lucrative data-licensing deal with Google, making this traffic decline notable given that existing relationship.
Technical Details
Reddit says underlying demand for its platform has not changed; rather, Google has stopped routing users to external sites following the rollout of AI Overviews and AI Mode, which now spans Google’s search results and Chrome, as detailed in Google’s AI Mode takeover of Chrome desktop. In response, Reddit is testing login walls outside the U.S. to curb scraping of its content.
Who’s Affected
Any publisher or platform reliant on Google referral traffic faces the same structural risk Huffman describes. Reddit itself must now weigh reduced reach from login walls against the benefit of deeper, authenticated engagement and continued data-licensing negotiations with AI providers.
What’s Next
Reddit’s data-licensing talks with AI companies continue, though it is not certain further deals will close. Huffman frames the login-wall strategy as a deliberate trade-off: less open-web reach in exchange for tighter control over how Reddit’s content is used.
