No Programmatic, No Worries! Reddit Records $136M In Direct Advertising Revenue

London, UK - July 31, 2018: The buttons of the app Reddit, surrounded by Pinterest, Whatsapp, and other apps on the screen of an iPhone.

Reddit surprised some earlier this year when it revealed it was getting rid of programmatic ads.

The platform made the announcement with little fanfare, simply stating: “programmatic ads are no longer allowed on Reddit” in an ads.txt page.

And while the move away from programmatic may have raised some eyebrows, Reddit’s strong direct advertising offering clearly played a role in the decision.

Upon opening Reddit’s first Australian office last month, Reddit’s VP and President of Global Advertising Harold Klaje told B&T that advertisers are able to leverage the many ‘subreddits’ that exist on the platform to reach customers with specific interests directly.

In an announcement on Friday morning, revealed it had recorded its first $US100 million ($136 million) revenue quarter from direct advertising, a 192 per cent increase compared to the same period last year

Reddit officially turned off programmatic ads on April 30, according to AdAge.

The advertising growth comes as Reddit revealed it had raised US$410 million in series F funding, valuing it at overUS$10BN.




Please login with linkedin to comment

reddit

Latest News

Scroll Media Recruits Costa Panagos From Twitch
  • Advertising

Scroll Media Recruits Costa Panagos From Twitch

Digital publisher network Scroll Media has employed ex-Amazon Twitch gaming executive Costa Panagos (lead image) to strengthen its Scroll Gaming capability. Panagos is highly experienced in game advertising and media sales professional with two years in account management at Twitch and three years in media sales at News Corp, so will bring his extensive media agency […]

Year13, Microsoft & KPMG Australia Launch AI Course For Gen Zs
  • Technology

Year13, Microsoft & KPMG Australia Launch AI Course For Gen Zs

School-leaver service Year13 has launched a new Artificial Intelligence course to upskill young people in AI, made in collaboration with Microsoft and KPMG, at an event to rally industry support behind youth AI fluency. The free online course AI Amplified which is part of Year13’s Academy aims to provide all young people with the opportunity […]

General Motors Snares Heath Walker From Scania
  • Advertising

General Motors Snares Heath Walker From Scania

General Motors has announced the appointment of Heath Walker (lead image) as the new marketing director for GM Australia and New Zealand, effective April 23, 2024. Walker brings a wealth of marketing and communications experience gained from working across various industries, including IT, sporting, and auto – notably Tesla, Nissan and most recently, Scania in […]