Reddit Q1 2024 report stands proud!
The platform has seen a solid rise in daily active users, and a 48% year-over-year increase in revenue.
First off, on users. Reddit is now up to an “all-time high” of 82.7 million daily actives, up 37% year-over-year. Reddit has seen steady growth in its daily user numbers, reflecting its efforts to maximize platform engagement.
In terms of revenue, Reddit brought in $243 million for the period, with ads revenue up 39% year-over-year.
Increase in revenue is fine, but not at increasing operational costs –
Reddit is adding more ad options, and it’s increasingly become an important platform for genuine product insights, which could drive more value for brands. But it still feels like it’s in the relatively early stages of building on this, and the results here largely reflect such.
& now, something about financial highlights –
You can read complete Reddit Q1 2024 Report here.
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