At the Consumer Electronics Show in Las Vegas, Reddit unveiled new trends tools aimed at businesses and a new ad format for its Ask Me Anything (AMA) Q&A sessions.
The announcements come after a record fiscal quarter for Reddit. In Q3 2024, the social network reported over 100 million daily active users for the first time, marking a 47% uptick from the previous year. Reddit also notched 68% year-over-year revenue growth, eclipsing $348.4 million — and achieving profitability.
Reddit’s free suite of tools for brands, Reddit Pro, is getting Reddit Pro Trends, which allows companies to see what Reddit users are discussing about “virtually anything” on Reddit, Reddit explained in a blog post.
Housed within a new “Trends” tab on the Reddit Pro menu, businesses can track keywords or phrases like a brand name, product name, category, and viral trends to see when, where, and how Reddit users are discussing it in real time. For around 100,000 “smart” keywords and phrases, businesses can see a visualization of Reddit conversation volume, a list of communities mentioning the keyword or phrase, a feed of conversations with the keyword or phrase, and — soon — a list of related keywords.
“Community favorites like Wayfair and the NBA have already been using Reddit Pro Trends as part of our test to find and join conversations in communities that want to hear from them,” Reddit wrote in the post. “For growing businesses like Nudge Security, Van Votz, and No Reception Club, these insights help them find and engage with their specific audience on Reddit. In fact, Reddit Pro Trends led to 12% more posts created by participating businesses.”
Elsewhere, Reddit is introducing AMA Ads, a new way to share AMAs across Reddit (AMAs being Reddit’s Q&A format that let subject-matter experts answer questions from Reddit users). Businesses can now promote AMA sessions directly from Reddit’s ad manager see the number of RVSPs for a particular event.
Reddit has been laser-focused on growth since its initial public offering last March. Last September, the company brought AI-powered automatic translation to dozens of new countries, and in November, Reddit said it would invest in international markets like the UK, India, Brazil, and the Philippines.
The U.S. still accounts for 83% of Reddit’s total revenue, per its Q3 results. Reddit COO Jen Wong told CNBC in a recent interview that the company plans to expand its local advertising to other countries.
techcrunch
