A Strategic Guide to Reddit Advertising

Interest in Reddit has been steadily growing over time and has reached new highs since Nov 2024

Reddit was the 6th most Googled word in the world in 2024, after they began publicly trading in March 2024.

• Reddit’s “Daily Active Uniques” averaged 97M in Q3 2024, an all-time high and increase of 47% YoY.
• Logged-in users were up 27% and Logged-out users were up 70% YoY.

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REDDIT’S SURGE IN POPULARITYIS DRIVEN BY

1. The Rise of Google AI, Concerns centered around Google Gemini’s accuracy has likely led to a surge in Google search results with the key term“Reddit” in 2024 and 2025, as audiences seek user-led validation for accurate search results to their queries. Reddit is rolling out its own AI to help its users find answers without relying on Google.
2. Machine Translation, Reddit uses machine translation to translate user-generated content in their feeds, posts, and comments into the user's preferred language, allowing global audiences to find content created outside their native language. This drove 4x more users from Q2 2024 to Q3 2024.
3. New Posting Tools, Reddit launched better tools for posting that have increased posts and reduced moderator removals, making a better user experience.
4. Changes to its API, Reddit began charging for its API in 2023, driving users to its native website and app from popular 3rd-party apps. This also prevented Google from freely training its AI using Reddit user-generated content. By Q3 2024, Reddit made $315M YoY in ad revenue, a 56% YoY increase.

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64% of Reddit’s audience is male, making it one of the optimal platforms for reaching male audiences.

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Most of Reddit’s audience is under 35 years old

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Reddit dominates in the number of unique monthly visitors, outnumbering every other major social platform

• The majority of Reddit’s users are logged-out, not requiring an account to access the platform (unlike most social platforms), which may result in its high number of Unique Monthly visitors

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Reddit outranks Instagram, X and Pinterest for session duration, showcasing its ability to capture attention amongst other social platforms

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Most Redditors aren’t doomscrolling, they seek specific posts to find the information they’re looking for

Reddit Business launched a report in association with Sensortower that found Redditors using its app spend 103% more time on the app by day 30, compared to other social platforms. This indicates that web-based users aren’t doomscrolling, but dedicated Redditors using the app are.

• Utilize conversion and product ads embedded within posts to get your ads noticed by as many Redditors as possible, for both web and app-based users.
• In internal tests, campaigns that include both Feed and Conversation Ad placements drive Action Intent more than 2x as strong as Feed only.

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The more years users spend active on Reddit, the more minutes they spend on the platform

• As active Reddit accounts age, the number of minutes the corresponding user spends on the platform increases.
• Older accounts are more likely to see an ad due to the increased time spent on the platform.

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There’s a significant whitespace opportunity for further investment in Reddit as most advertisers focus on other platforms

• From the top advertising platforms, Reddit ranks seventh highest in ad spend.
• Reddit wins $107M more ad dollars than X (formerly Twitter) from the top 5000 advertisers.

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Top sectors spending on Reddit are the Technology ($78M) and Healthcare ($41M) sectors

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Of its top 5 advertisers, Reddit still pales in comparison for its share of ad spend vs other social platforms

• Advertisers continue to treat Reddit as a niche advertising platform, just 1.47% of total ad spend across the top 5000 advertising are going towards Reddit, reaffirming it as a high-intent, but secondary platform.

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Technology giants Adobe and Apple are experimenting on Reddit with <3% of their total ad budget

Steam, an online game platform, is notably spending $4M on Reddit. The fourth largest subreddit on the platform is r/gaming with 47M community members.

Top Advertisers in Technology:

• Adobe: $9M | $4.45 CPM
• Apple: $6.5M | $4.62 CPM
• Samsung: $4M | $4.20 CPM
• Steam: $4M | $4.15 CPM
• Upwork: $2.5M | $2.81 CPM

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Nintendo and Riot Games are allowing their popular subreddits to boost organic discussion and engagement online

Two of the most popular communities focused on products are r/leagueoflegends (Riot Games), ranked as the 87th most popular subreddit, with 8.1M users while r/nintendoswitch is ranked as the 91st most popular subreddit with 7.8M users.

Neither advertisers are investing heavily with their ad dollars, allowing their communities to create organic discussion instead.

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Hims, a men’s online healthcare provider, spends 45% ($9M) of their ad budget on Reddit to appeal to its male-skewing demographic

Top Advertisers in Healthcare:

• Hims: $5M | $2.57 CPM
• Rexulti: $3M | $5.41 CPM
• Mayoclinic: $2M | $5.20 CPM
• Wegovy: $2M | $5.24 CPM
• Vabysmo: $2M | $5.39 CPM

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Publications like the NY Times and Washington Post are utilizing Reddit to expand their reach to its interactive, engaged community

Top Advertisers in Telecommunications & Media:

• NYTimes: $2M | $4.39 CPM
• Washington Post: $1.5M | $3.53 CPM
• XFinity: $1M | $3.98 CPM
• Frontier: $1M | $4.26 CPM
• AT&T: $1M | $4.20 CPM

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The top advertiser in the Financial Services sector is Tradestation, a brokerage firm, that surpasses the ad spend of major banks and credit providers

Top Advertisers in Financial Services:

• Tradestation: $7M | $3.52 CPM
• American Express: $5M | $4.19 CPM
• eTrade: $2M | $4.31
• Direxion: $2M | $5.02 CPM
• Discover: $1.5M | $4.29 CPM

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Of the top ten Financial Service advertisers, five of the advertisers are specialized in financial trade

With 19M users, r/wallstreetbets remains one of Reddit’s most popular communities (ranked #43).

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Popular trading communities like r/wallstreetbets and r/bitcoin are influencing how advertisers are spending on Reddit

• With 19M users, r/wallstreetbets is one of Reddit’s most popular communities (ranked #43). Trailing behind with 7.9M users, r/bitcoin remains one of Reddit’s most popular communities (ranked #92).
• Most popular subreddits tend to be centred around memes (e.g. r/funny, ranked #1) and other general discussion (e.g. r/damnthatsinteresting, ranked #38), but these two trading communities standout as interactive, supportive communities for members seeking to accomplish successful trades to grow their wealth.

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The popularity of r/wallstreetbets has incentivized banks, like TD, to invest 18% of their ad spend into Reddit

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TD is prioritizing investing with their ads on Reddit to target its large trading community

• TD is messaging community to Reddit users with statements like “Invest on your own. But never alone. ”to appeal to the community-oriented aspect of the social platform.
• TD recognizes that Reddit offers a unique opportunity to appeal to audiences with a specialized interest in financial trading and is adjusting its ads to suit the audiences of the platform.

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Want to tap into Reddit’s potential?

The insights in this report are just the beginning. We can help you:

• Pinpoint your high-intent audience: Reddit is where decision-makers go deep. We’ll help you identify the right subreddits and communities aligned with your target segments—whether it’s tech professionals, health-conscious consumers, or finance-savvy investors.●
• Optimize campaigns for attention and action: With Reddit’s industry-leading session duration and engagement rates, we’ll show you how to craft ads that blend into conversations and convert—without being ignored or blocked.●
• Leverage organic communities—not just paid reach: From r/wallstreetbets to r/AskDocs, Reddit communities influence real-world purchasing. Learn how to spark earned engagement and position your brand authentically.●
• Capitalize on whitespace media spend: With only 1.47% of top advertiser spend going to Reddit, the competition is low—but the opportunity is high. We’ll show you how to build a media mix that outperforms across cost-efficient CPMs.

Or, talk to us about your specific goals and we’ll show you how to build smarter campaigns with Reddit.

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Who is RightMetric?

A strategic insights partner combining audience, content, and channel research to provide mission-critical intelligence to marketing strategists.

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APPENDIX

Our Data Sources.

We’ve partnered with 25+ of the world’s best marketing data sources, some of which are shown to the right.
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Why this matters:
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To accurately identify and understand trends, we need holistic data sources that cover all relevant channels on the internet. Observation isn’t enough to come to robust conclusions. Empirical data must be part of the process. For a deeper dive into our source data—which underpins the findings of this report— check out RightMetric’s “Our Data” page.

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How the Activation Breakdown™ Methodology Works