Reddit has long had a difficult relationship with advertising. While Google and Facebook carved up the digital ad market between them, the self-proclaimed “front page of the internet” failed to make the most of its stature in the early days of social media. That frostiness towards brand dollars appears to be thawing, however.
Since the return of co-founder Steve Huffman as Chief Executive in 2015, Reddit has made it increasingly easy for advertisers to engage with its users. Earlier this year it introduced its first performance ad, a cost-per-click format, and poached Twitter’s Shariq Rizvi to head up its new performance ad business. According to recent estimates, Reddit’s ad revenues will pass the $100m mark in 2019 – and surge to as much as $260m by 2021.