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The blackout is starting to have a financial impact on Reddit, but we must stay dark!
(www.adweek.com)
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They have been doing this since March 2020.
Source: https://www.redditinc.com/blog/introducing-reddits-new-offering-for-advertisers-trending-takeover/
I'm aware, With this new article it seems they are going to become much more aggressive with ads and I expect them to get rid of old.reddit in the future to force even more ads on people with this change.