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By submitting User Content to reddit, you grant us a royalty-free, perpetual, irrevocable, non-exclusive, unrestricted, worldwide license to reproduce, prepare derivative works, distribute copies, perform, or publicly display your User Content in any medium and for any purpose, including commercial purposes, and to authorize others to do so.
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While it is understandable that Reddit needs to ensure it has the ability to continue hosting user content legally, the updated policy empowers the company to use user-generated content even for commercial uses.
If we are using a service for free, is it fair for the service provider to make money in this way? After all, they need revenue to continue making the service available.