Reddit Averaged 52 Million Daily Active Users in October 2020: Report

Reddit was founded in 2005 and this is the first time it has shared user statistics.

Reddit Averaged 52 Million Daily Active Users in October 2020: Report

Reddit is a platform where people can discuss almost anything

Highlights
  • Reddit averaged 52 million daily active users in October
  • This is the first time the platform has shared user statistics
  • Reddit’s ad revenue last year was more than $100 million
Advertisement

Reddit has reportedly shared that it averaged 52 million daily active users in October 2020. This marked a 44 percent increase compared to October last year. The social media platform has shared this data for the first time and in a bid to rope in more advertisers, along with being in line with industry reporting. Reddit COO Jen Wong also shared that the company's advertisment revenue was more than $100 million (roughly Rs. 7,400 crore) in 2019 and is on track to increase by over 70 percent this year.

Reddit was founded in 2005 and acts as a platform to thousands of communities and discussions. For the first time, the social media firm has shared its user statistics and told Wall Street Journal that it averaged 52 million daily active users in October 2020. It marked a 44 percent growth over last year for the same month. This growth has coincided with growth in Reddit's advertising business, the report adds.

“We're sharing [daily active users] for the first time as a more accurate reflection of our user growth and to be more in-line with industry reporting. We're focused on daily usership and increasing this number as we continue to grow our community and scale our advertising business,” WSJ quotes Jen Wong.

Wong also shared that its total advertisement revenue was more than $100 million last year and is on track to increase by more than 70 percent this year. Though Reddit saw a decline in advertisement revenue in the second quarter of this year due to the coronavirus pandemic, it has rebounded quite significantly to show an 83 percent year-over-year (YoY) growth in the third quarter.

The report points out that though Reddit's 52 million daily active users is impressive, but it is nowhere close to Twitter's average monetisable daily active users (mDAU) at 186 million and Facebook's reported 1.82 billion average daily active users in September.

Citing Susan Schiekofer, Chief Digital Investment Officer for ad-buying giant GroupM, the report states that Reddit is in the “experimental bucket of budgets” for advertising in gaming, beauty, technology, finance, and entertainment. Compared to the larger corporations like Snap, Twitter, Facebook, and Instagram, Reddit is nowhere close when it comes to advertising budget. Additionally, Wong reportedly stated that Reddit plans to grow its sales force to around 300 people by the end of this year and a further 75 percent over the next year.


Which is the best TV under Rs. 25,000? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

 

Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Microsoft Teams Getting Apple CarPlay Support, Call Transfer Feature in Interface Overhaul
Vi (Vodafone Idea) Brings Rs. 1,348 RedX Family Postpaid Plan With ‘Unlimited’ High-Speed Data
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »