Official announcements from other major social media platforms or credible news outlets

Reddit's Interest-Based Ads to Boost Revenue to $1.1 Billion in 2024, Challenging Meta and Google

Aug 23, 2024, 11:35 AM

Reddit is gaining traction with advertisers by focusing on interest-based targeting through its extensive network of over 100,000 subreddits, rather than relying on personal data. This innovative approach allows Reddit to attract advertisers by leveraging passionate interest groups, challenging industry giants like Meta and Google in the process. As a result of this strategy, Reddit's ad revenue is projected to exceed $1.1 billion in 2024. The platform's ability to target ads based on topics rather than personal data is seen as a bold move in redefining targeted advertising strategies. Despite the anonymity of most Reddit users, the platform's unique approach is proving effective in delivering relevant ads.