Reddit generated $465 million in ad revenue during Q2, an 84% year-over-year increase, contributing to the majority of its $500 million revenue. Daily active users grew by 21% year-over-year to 110.4 million, with average revenue per user rising 47% to $4.53. The company's advertising success is attributed to responsiveness to advertiser needs, new formats, and better integration with ad technology. Dynamic Product Ads, producing double the return on ad spend compared to standard campaigns, illustrate this growth in their advertising strategy.
Reddit netted $465 million in ad revenue in Q2, an 84% year-over-year increase, making it its most profitable quarter since going public.
Reddit has a three-pronged approach to ensure advertiser success: driving performance across campaign objectives, improving usability of its ad platform, and offering unique ad formats.
New Dynamic Product Ads are generating 2x higher average return on ad spend compared to standard conversion campaigns.
Reddit grew its daily active users by 21% YOY to 110.4 million, with average revenue per user increasing 47% YOY to $4.53.
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