Reddit has, for the first time, shared that they are claiming 52 million daily active users in October, which would be a year over year increase of 44%.
Jen Wong, chief operating officer of Reddit had this to say in the Wall Street Journal:
“We’re sharing [daily active users] for the first time as a more accurate reflection of our user growth and to be more in-line with industry reporting. We’re focused on daily usership and increasing this number as we continue to grow our community and scale our advertising business.”
According to Reddit, this user growth has coincided with growth in its advertising business. Wong said that, in 2019, Reddit’s ad revenue totaled over $100 million and will probably rise to over 70% this year.
Source – Wall Street Journal