REDDIT'S AD BUSINESS IS EXPANDING—BUT IT'S STILL SMALL COMPARED TO OTHER PLATFORMS

Summary from the TLDR Marketing newsletter

Reddit's advertising business is on track to hit $1 billion in revenue in 2024 - competitors like Snapchat and Pinterest earn three to four times as much. Reddit has been focused on bringing in new advertisers, courting them with new ad products and features. This has helped the platform achieve 56% year-over-year growth in ad revenue.