Reddit is exploring monetizing its search results pages, teasing a significant untapped opportunity for the popular online forum.
Logical next step. With over 1 billion monthly searches on the platform, Reddit sees advertising against user searches as a logical next step to improve monetization after enhancing the core search experience.
Why we care. Reddit venturing into search ads could present a lucrative opportunity to target users with high intent. Advertisers will get the diversity in available platforms they crave as signs of decreasing Google trust levels prevail.
What they’re saying. Steve Huffman, CEO of Reddit, said on the company’s latest earnings call:
State of play. Reddit is first focused on upgrading its search functionality with improved back-end performance, autocomplete, and a revamped user interface slated for this year.
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Business email address Subscribe Processing...What’s next? While no firm timeline was provided, Reddit appears committed to extracting more value from its massive search volume by opening up ad inventory once its revamped search product takes shape.