Reddit Daily Users Flat, Advertisers Urged To Take Closer Look
Reddit’s stock has fallen after release of its Q3 earnings, mostly due to declining referral traffic, Marketing Dive says in an analysis. The explosive growth — partly driven by the firm’s advertising capabilities — is slowing down, and daily traffic is flat quarter-over-quarter. However, overall revenue grew by 53% YoY to $895 million. Marketers should take a closer look as Reddit gains a stronger presence in the online advertising space, Marketing Dive contends.