蘑菇AV

Reddit posts strong Q3 profit: Ad revenues surge 56%, though user engagement and global growth remain critical to long-term success.

In one Reddit post, users claiming to work at WPP or its subsidiaries expressed anger over having to report in-person after years of remote work or when their teams are scattered across the country. This article is part of 蘑菇AV鈥檚 client-only subscription Briefings鈥攄aily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends.

Contextual targeting gives Reddit an edge: The platform is expanding a feature that let advertisers buy space in highly specific comment sections.

The ICO is analyzing how TikTok uses 13-17 year olds鈥� data to recommend content and how platforms like Reddit and Imgur verify the age of child UK users. The investigation comes in light of mounting concerns over how these platforms are using data generated by children鈥檚 activity in recommendation systems, 鈥渨hich could lead to young people being served inappropriate or harmful content.鈥�.

Reddit social shoppers are more likely to have purchased high-consideration goods. Among the platforms, Reddit has a comparatively small percentage of users who are social shoppers. But large percentages of its shoppers bought things that typically require a lot of research, such as financial products and consumer electronics.

This year, TikTok will ride the social video wave to become the third social platform with more than 100 million users in the US. But text-based platforms are also set for a revival thanks to Instagram Threads, Bluesky, and even Meta鈥檚 Messenger.

The greatest amount of growth will come from Gen Zers as they enter adulthood, but millennials are still a force to be reckoned with due to the sheer size of their user base.

But those marginal users, who are primarily outside of Twitter鈥檚 core age 25 to 44 demographic, will be among the first to go as Twitter becomes more unstable, unwelcoming, and unenticing. Reddit will have more US monthly users than Twitter in 2024. In our previous forecast, completed prior to the acquisition, we expected Twitter to have 5.3 million more users than Reddit in 2024.

It鈥檚 more than just a user growth problem. Social ad spending growth is slowing partly because the US market is almost fully penetrated: User growth will be under 2% this year.

Reddit鈥檚 progress with its platform user experience garners optimism. In October 2022, we forecast Reddit would notch a modest 14.2% revenue increase in 2023, to $406.1 million. But numerous agency executives interviewed for this report in December 2022 and January 2023 said Reddit could raise its profile this year. Brand safety worries are squeezing Twitter鈥檚 user base and advertising prospects.

And these Gen Z TikTok users will spend 1:19 daily on the app, nearly matching the time spent by Gen Z users of Instagram and Snapchat combined. The big picture: TikTok users ages 18 to 24 are watching the equivalent of a full-length comedy movie on the app every day. That鈥檚 almost the same as watching 鈥淐lueless鈥� and skipping the credits.

Reddit, unlike most social media platforms, is growing: Facebook, Instagram, and even TikTok are seeing engagement drops, per Comscore data.

On today's podcast episode, we discuss why Pinterest is growing so fast, how Snapchat is able to get more and more folks to pay for its premium service, and why people are spending increasing amounts of time on Reddit. Tune in to the discussion with our director of Briefings Jeremy Goldman and analyst Daniel Konstantinovic.

Millennials dominate on Reddit, where they represent about 40% of the user base. They鈥檙e also present on TikTok, though not as much as Gen Z. Meanwhile, Facebook and X (formerly Twitter) will both lose millennial users this year. Use this chart:. Understand the generational breakdown of US social network users.