Reddit is a popular platform where the user count just keeps growing. The site and app have seen a steady uprise over the years in terms of user interaction. It is one of the go-to platforms to find various topics of interest and find like-minded users. Of course, since Reddit is so widely used, it would be appealing for marketers to showcase their ads on the site. If you wish to take it a step forward but are hesitant about it, then you can keep reading. We will be taking a look at the top 20 statistics that will help marketers on Reddit.
Top 20 Reddit Statistics for Marketers and Advertisers
If you are going to take a step forward by trying to run ads on Reddit, then you can take a look at the stats below. Since Reddit has a very active user base that just keeps growing, marketers and advertisers would benefit from showcasing their ads on the platform.
Read more: Top 20 Most Upvoted Post on Reddit 2023
1. Reddit generated $350 million through advertising in 2021
Advertisements were one of the primary sources of revenue on Reddit, bringing in around $350 million in 2021. It has seen a sharp incline from 2020, which only generated $170 million in revenue.
2. Reddit has raised $1.3B in total funding over 10 rounds in 2021
The platform has around 73 investors currently. In 2022 $1M was raised in a single venture fund, Community Fund.
3. Reddit’s active user base brought 2.5+ billion total comments, and 24+ billion upvotes.in 2022
This was seen as a 7% increase YoY, which shows that there is a lot more user interaction on Reddit than in previous years. By the looks of it, it will not go down anytime shortly.
4. 1.5 billion users are registered to Reddit in 2023
The platform boasts of having 430 million active monthly users, out of which 52 million use Reddit daily.
5. Reddit is valued at $15 billion in listing in 2023
According to the report, Reddit is currently valued at $15 billion for its IPO listing. Because of its high value, this will benefit more revenue returns for advertisers.
6. Reddit’s ad sales team quintupled since 2020
There is no slowing down when it comes to using Reddit as an advertising platform. It was assured that even after the death of Cookie, Reddit’s advertising won’t be hurt
7. Annual Reddit advertising revenue is over $439.17 in 2021
According to the Reddit segment reviews in 2021, Reddit’s annual online advertising revenue has brought $439 million in 2021. This is approximately 0.51 average revenue per user (ARPU). This is a 180% increase compared to 2018
8. Reddit boasts approximately 1.7 billion visits in 2022
Total global visitor traffic to the platform saw a spike in 2022, with May having the most active visitors at 1.7 Billion visits. There were 2.7 billion active Reddit mobile users and 1.12 billion desktop users
9. 30% increase in growth of monthly active users on Reddit in 2021
Reddit is quickly growing as the go-to platform, as it saw a spike in monthly user interaction between 2019 and 2021.
10. 2 in 3 Gen Z users claim they are more likely to purchase products recommended on Reddit
82% of Gen Z say they are more likely to purchase products advertised on Reddit. Gen Z users have also claimed that they use Reddit as a trusted platform to learn about products. 26% of Reddit users are Gen Z
11. 1 million+ companies use Reddit as a go-to Native Advertising Tool in 2023
Marketing, Social Media, and the SEO industry are the top three industries that see Reddit as a reliable source of advertising.
12. 26.4 million Americans use Reddit every month
Reddit’s largest audience belongs to the USA, with 47.82% of US users drawing the majority of the traffic in 2021
13. Most Popular Subreddit are for Video Games
The Video Game subreddit drew 17.40% of user traffic, followed by Tech (11.09%) and News (7.39%).
14. Reddit drew 30 billion average monthly views in 2020
This is seen as a 42% hike from the previous year, which brought only 20 billion monthly active views.
15. 52% of US Reddit users use the platform daily
Out of which, around 30% say they use Reddit weekly. 95% of Americans use Reddit every month.
16. 85% of Reddit users trust opinions on the platform in 2021
A majority of online users go to Reddit to find honest and trustworthy reviews of products and services
17. 90% of Reddit users use the platform to learn about new brands and products
Reddit users turn to the platform to find reliable and trustworthy reviews for products and brands on the platform.
18. Reddit has over 100K+ active communities
There are over 100K+ active subreddits and wide user interaction on the platform. This can be a great tool for advertisers to get some reach
19. 69% of Reddit users do not use other Social Media Platforms
A large chunk of users do not opt to register to other social media platforms like Instagram, Twitter, and TikTok. Reddit is their primary source of information.
20. Reddit ads offer more inexpensive advertising
Compared to other platforms, advertising on Reddit costs a minimum of 5$ a day. Using their various subreddits, advertisers can focus on niche targets for projecting their ads.
These 20 statistics will prove that Reddit should be a go-to source for marketers and advertisers to display their products and services. Reddit is a fast-growing platform and is trusted by millions of users worldwide. Its easy-to-use interface coupled with organic user interaction makes it a reliable platform to make a move here.
