"Reddit's global average daily users increased by 17% year over year in Q1 to 126.8 million, with US daily users up 7% YOY to 53.5 million."
"The influx of new users in Q1 helped contribute to Reddit's 74% YOY growth in advertising revenue, bringing its total to $625 million for the quarter."
"After just a few months in market, early adopters of Reddit Max have seen a 17% reduction in cost per action and 25% more conversions on average."
"Growing the total number of advertisers adopting Reddit Max is a priority for Reddit's sales teams, emphasizing that it has plenty of room to catch up to competitors."
Reddit experienced a 17% increase in global daily users, reaching 126.8 million, and a 74% rise in advertising revenue to $625 million in Q1. The platform aims for one billion global daily users. Key to this growth is the launch of Reddit Max, an AI-powered ad optimization suite, which has led to a 17% reduction in cost per action and 25% more conversions for early adopters. Reddit's sales teams are focused on increasing the adoption of Reddit Max among advertisers.
Read at AdExchanger
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