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Reddit executives discussed plans on Tuesday for making more money from the platform, including showing ads in more places and possibly putting some content behind a paywall.
On Tuesday, Reddit shared its Q2 2024 earnings report (PDF). The company lost $10.1 million during the period, down from Q2 2023’s $41.1 million loss. Reddit has never been profitable, and during its earnings call yesterday, company heads discussed potential and slated plans for monetization.
As expected, selling ads continues to be a priority. Part of the reason Reddit was OK with most third-party Reddit apps closing was that the change was expected to drive people to Reddit’s native website and apps, where the company sells ads. In Q2, Reddit’s ad revenue grew 41 percent year over year (YoY) to $253.1 million, or 90 percent of total revenue ($281.2 million).
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