Even Reddit is benefiting from the success of the digital advertising sector.
Reddit revealed its fourth-quarter revenue of $428 million on Wednesday, the greatest growth rate for any quarter since 2022 and a 71% increase over the previous year.
Jeremy Goldman, a senior director at Emarketer, Reddit’s developing sales show a particularly robust digital ad market, despite the fact that the company’s shares fell due to lower-than-expected user numbers.
“For an indication of the general health of the ad market, investors usually look to the financial performance of tech giants like Meta, Alphabet, and Amazon.”
The fact that Reddit’s sales increased dramatically in tandem with the larger players indicates that advertisers are confident enough to “diversify to a platform that’s more nascent, like Reddit, and say ‘We’re willing to throw some dollars at this thing that we don’t really understand.’”
Source (CNBC)
