Reddit Revenue and Usage Statistics (2024) (2024)

In a second attempt to be one of the first inductees of the startup incubator Y Combinator, University of Virginia roommates Steve Huffman and Alexis Ohanian built Reddit, which they labelled “the front page of the internet”.

The site functionality remains much the same as it was back in 2005. Users write posts, upload photos, videos and link to other parts of the internet. To organise the content, Redditors upload to specific subreddits. If the post receives a lot of attention, it may be featured on /r/all, the front page.

A year after launch, Reddit sold to Conde Nast Publications for $20 million. Conde Nast owners Advance Publications moved Reddit to its own subsidiary a few years later. It remains the largest shareholder, although a recent investment by Tencent may have diluted its stake.

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Huffman and Ohanian, alongside other early Reddit employees Aaron Swartz and Christopher Slowe, left Reddit in the next few years. While many in the Reddit community liked the rather web 2.0 look, it began to lag behind the other social networks rapidly gaining traction, such as Facebook and Twitter.

It wouldn’t be until 2015, after a succession of CEOs brought in by Advance Publications, that the original duo of Huffman and Ohanian would take back the reigns. At this point, Reddit had built a tight-knit community, but had several fundamental issues which scared advertisers and new users.

While it took a few years, Huffman (led by ex-CEO Ellen Pao’s anti-harassment policy) began to ban a lot of the less desirable subreddits and dish out harsher punishments to those harassing, doxing and insulting other people.

Reddit still makes a slither of revenue from advertising in comparison to Facebook and Twitter, however it has started to see real progress.

Huffman has preceded over a greater push to mobile. For the first 10 years of Reddit’s existence, it allowed third-party developers to build apps for the website, but in the past five years it has dedicated far more time to its first-party offering.

Reddit also updated its website and app to fit with the design trends of the past few years. This sparked pushback by Redditors, so web users are able to reset the design to the older version.

The updates to design and harassment seem to have been critical to Reddit’s two recent funding rounds, the most recent valued the company at $6 billion. In 2020, Reddit was the epicentre of the /r/WallStreetbets short squeeze on hedge fund managers, using the Robinhood app. This drew in millions of new users to the platform.

We have collected data and statistics on Reddit. Read on below to find out more.

Reddit Key Statistics

  • Reddit generated $810 million in 2023, primarily from its advertising business
  • Reddit had 70 million daily active users and approximately 850 million users who use it once a month
  • In 2020, Reddit received over 30 billion views every month
  • Reddit was valued at $10 billion in August 2021, almost doubling its previous valuation of $6 billion in February 2021

Reddit Overview

TitleTitle 2
Launch date23 June 2005
HQSan Francisco, California
PeopleSteve Huffman (co-founder, CEO), Jen Wong (COO), Christopher Slowe (CTO), Alexis Ohanian (co-founder)
Business typePrivate
OwnerAdvance Publications (majority shareholder)
IndustryInternet, social

Reddit Revenue

Reddit increased its revenue by 20.8% in 2023, with the vast majority coming from advertising.

Reddit annual revenue 2014 to 2023 ($mm)

YearRevenue ($mm)
20148
201515
201625
201750
201880
2019120
2020188
2021456
2022670
2023810

Sources: AdAge, eMarketer, TechCrunch, The Information

Reddit Users

Reddit had 850 million monthly active users in 2023, putting it ahead of Snapchat, Pinterest and LinkedIn.

Reddit monthly monthly active users 2017 to 2023 (mm)

Reddit annual monthly active users 2013 to 2023 (mm)

YearMAUs (mm)
201370
201485
2015120
2016170
2017250
2018330
2019370
2020551
2021766
2022812
2023850

Sources: Business Insider, Company data

Reddit Daily Users

Reddit had 70 million daily active users in 2023, 13 million more than the previous year.

Reddit annual daily active users 2013 to 2023 (mm)

YearDAUs (mm)
201936
202052
202150
202257
202370

Source: Company data

Reddit Valuation

Reddit received two valuation increases in 2021, rising from $3 billion in 2019 to $6 billion in February 2021 and then $10 billion in August 2021.

Reddit valuation 2014 to 2021 ($bn)

DateValuation ($bn)
20140.5
20171.8
20193
Feb 20216
August 202110

Sources: CNBC, VentureBeat, WSJ

Reddit Funding

Reddit has received over $1 billion in total funding since it received its first series in 2012. The majority of its funding came in the past two years.

Reddit cumulative funding 2012 to 2021 ($mm)

YearFunding ($mm)
20121
201450
2017250
2019550
2020919
20211328

Source: Crunchbase

Reddit Monthly Views

Reddit received 30 billion average monthly views in 2020, a 42% increase on the previous year.

Reddit average monthly views 2018 to 2020 (bn)

YearMonthly views (bn)
201814
201921
202030

Source: Company data

Reddit FAQ

How many minutes does the average Reddit user spend on the site?

Users spend on average 10 minutes 23 seconds on Reddit

How many posts are uploaded a year?

303.4 million posts were uploaded in 2020

How many comments were posted in a year?

In 2020, Reddit users posted over two billion comments and 49.2 upvotes

How many videos are uploaded to Reddit?

1.4 billion videos are uploaded to Reddit every month

How much of Reddit’s traffic is from the US?

According to SimilarWeb, over half of Reddit’s traffic is from the US

What is Reddit’s largest age demographic?

A quarter of Reddit users are between the ages 20-29

How many subreddits are available on Reddit?

There are over 2.2 million subreddits, 130,000 of which are considered active communities

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Reddit Revenue and Usage Statistics (2024) (2024)

FAQs

How many people use Reddit in 2024? ›

How Many Reddit Users Are There?
YearNumber of Reddit UsersChange Over Previous Year
2023491.5 million↑ 18.1 million
2024*504.54 million↑ 13.04 million
2025*514.66 million↑ 10.12 million
2026*523 million↑ 8.34 million
6 more rows
Apr 24, 2024

What happened to Reddit in 2024? ›

The company then reportedly filed for an IPO in December 2021 with a valuation of $15 billion. Reddit debuted on the stock market on the morning of March 21, 2024 with the ticker symbol RDDT. The current—July 2024—market cap is $10 billion.

Is Reddit getting more or less popular? ›

According to another source, Reddit is estimated to have 1.212 billion monthly active users in 2024. Reddit's monthly active user base grew by 3.66x since 2018 when the platform had 331 million monthly active users.

What country are most Reddit users from? ›

Reddit was created in the United States, so it should come as no surprise that the United States also has the most users.

What is the largest subreddit in 2024? ›

Reddit most subscribed communities 2024

As of February 2024, r/funny was the most popular community on the platform, with approximately 56.6 million subscribers. Subreddit r/AskReddit ranked second, with approximately 45 million registered Reddit users subscribing to the community.

What generation uses Reddit the most? ›

Reddit Demographics Age

A majority of Reddit users fall within the 18-29 age range, making up 64% of its user base. This age group is notably tech-savvy and active on social media.

Why is Reddit deleting subreddits? ›

Reddit: subreddit removal reasons H1 2023

In the first half of 2023, the most common reason for subreddit removal was spam, with 199,525 subreddits being removed and banned for this reason. Additionally, over 195 thousand communities were taken down by Reddit admins due to a lack of active moderation.

Is Reddit still growing? ›

According to analytics firm Similarweb in a Search Engine Journal article, Reddit has experienced a remarkable 39% increase in traffic year-over-year.

Is Reddit no longer NSFW? ›

Reddit has blocked access to mature content on its platform via third-party apps. Users will now have to log in to the official Reddit app to view explicit content. The move by Reddit is aimed at forcing users to adopt the official app instead of third-party apps.

Does Reddit turn a profit? ›

Reddit was founded nearly two decades ago, yet it's never turned a profit.

What age uses Reddit the most? ›

Distribution of Reddit app users in the United States as of March 2021, by age group
CharacteristicShare of users
20-2928.1%
30-3926.1%
40-4914.1%
50+10.3%
1 more row
Feb 26, 2024

What is Reddit mostly used for today? ›

Reddit is a social news website and forum where content is socially curated and promoted by site members through voting. The site name is a play on the words "I read it." Reddit member registration is free, and it is required to use the website's basic features.

What race uses Reddit the most? ›

Percentage of U.S. adults who use Reddit as of September 2023, by ethnicity
CharacteristicReach
White21%
Black14%
Hispanic23%
Asian36%
Feb 28, 2024

Is Reddit still popular in 2024? ›

During the second quarter of 2024, online forum and news aggregator Reddit saw approximately 91 million daily active users (DAU) engaging with its platform.

How does Reddit make money? ›

The company generates revenue through advertising and an ad-free premium membership plan. Reddit operates in the application-software segment of the technology industry, providing software that allows users to share media content.

Is Reddit gaining users? ›

Reddit is now up to an all-time high of 82.7 million daily actives, up 37% year-over-year. As you can see in this chart, Reddit has seen steady growth in its daily user numbers, reflecting its efforts to maximize platform engagement.

How many users did Reddit have in 2012? ›

Reddit revealed that in 2012 it received 37 billion page views, 400 million unique visitors, and 30 million posts -- not bad for one of the most simple Web sites on the Internet.

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