Reddit CEO: Google's AI Overviews Are Cutting Search Traffic and Underdelivering

Reddit CEO Steve Huffman told shareholders ahead of Q2 2026 earnings that Google's AI Overviews — auto-generated summaries atop search results — have reduced search traffic to Reddit and haven't matched the value of traditional blue-link search. "People don't want a summary of Reddit; they want Reddit," he wrote. Huffman declined to rule out restructuring Reddit's $60 million content licensing deal with Google, saying only that "the range of outcomes is wide."