Reddit wins a larger share of digital advertising budgets, according to investment firm Jefferies.
Jefferies' report cites ad agency Horizon Media. Horizon Media noted client spending on Reddit grew 20% to 25% annually. This growth occurred over the past three years.
This trend highlights Reddit's increasing appeal to advertisers. Reddit enhances its ad tools and monetization efforts.
The positive commentary follows strong advertising revenue growth for Reddit. Reddit recently rolled out new AI-powered campaign features. The company also rolled out other integrations to attract more ad dollars.