Published on January 9th, 2025
At the prestigious Consumer Electronics Show (CES) in Las Vegas, Reddit made waves with the announcement of new tools designed to empower businesses.
Alongside these innovations, the platform introduced an ad format tailored to its popular Ask Me Anything (AMA) sessions.
These developments come on the heels of a record-breaking quarter for the social media giant, showcasing its growth and commitment to enhancing user and business experiences.
Record-Breaking Growth for Reddit
In Q3 2024, Reddit achieved a significant milestone: surpassing 100 million daily active users for the first time.
This marked a remarkable 47% increase from the previous year. The platform also reported an impressive 68% year-over-year revenue growth, reaching $348.4 million and achieving profitability.
These figures underscore Reddit’s position as a formidable player in the social media landscape.
Introducing Reddit Pro Trends
A highlight of Reddit’s announcement is the expansion of its free suite of tools for brands, known as Reddit Pro.
The new addition, Reddit Pro Trends, provides businesses with real-time insights into user conversations.
Key Features of Reddit Pro Trends:
- Keyword and Phrase Tracking: Businesses can monitor discussions on Reddit around brand names, product names, categories, and viral trends. This feature ensures companies stay informed about relevant conversations.
- Visualization Tools: For approximately 100,000 “smart” keywords and phrases, businesses gain access to visualizations of conversation volume. This includes insights into:
- Communities mentioning the keyword or phrase.
- A feed of conversations featuring the keyword.
- A list of related keywords (coming soon).
- Enhanced Community Engagement: By leveraging these insights, brands can identify and join meaningful conversations within Reddit’s diverse communities. Early adopters like Wayfair and the NBA have already seen success with this tool, engaging audiences effectively.
Case Studies:
- Growing businesses such as Nudge Security, Van Votz, and No Reception Club reported a 12% increase in posts created after using Reddit Pro Trends.
AMA Ads: A Game-Changer for Engagement
Reddit’s AMA (Ask Me Anything) format has long been a favorite among users for its engaging Q&A sessions with subject-matter experts. Now, with AMA Ads, businesses have a new way to promote these sessions directly from Reddit’s ad dashboard.
Benefits of AMA Ads:
- Promote AMA sessions across Reddit’s vast user base.
- Track RSVP numbers for specific events, providing actionable metrics for businesses.
This innovative ad format offers a unique opportunity for brands to connect with their target audience through interactive and informative sessions.
Global Expansion and Future Plans
Reddit’s growth strategy extends beyond its tools and features. Following its initial public offering (IPO) last spring, the platform has prioritized international expansion and technological advancements:
- AI-Powered Translation: In September 2024, Reddit introduced AI-driven translation capabilities, enabling users in dozens of new territories to engage with content seamlessly.
- International Advertising: While the U.S. currently accounts for 83% of Reddit’s revenue, the company plans to expand its local advertising efforts to countries like the U.K., India, Brazil, and the Philippines. Reddit COO Jen Wong highlighted these ambitions in a recent interview with CNBC, emphasizing the platform’s focus on global growth.
Conclusion: Reddit’s Vision for the Future
Reddit’s latest innovations, including Reddit Pro Trends and AMA Ads, highlight its dedication to empowering businesses and fostering meaningful interactions on its platform.
As the company continues to expand its global reach and introduce cutting-edge tools, it solidifies its position as a leader in the social media space.
With record-breaking growth and a clear vision for the future, Reddit remains a vital platform for businesses aiming to connect with engaged and diverse audiences.
