Reddit has reported that it averaged 52 million daily active users in October 2020, a 44% year-on-year increase in active engagement.
It's the first time Reddit has reported daily active usage - last December, Reddit reported that it had reached 430 million monthly active users, a +30% YoY increase. The platform's daily active user count, however, provides a different comparison - here's where Reddit stands on DAU against other social platforms.
So it's still a way off the rest of the field - with Facebook standing out at 1.8 billion daily actives. But Reddit is growing, and 52 million active, engaged users is significant, especially when you consider the many niche communities on the platform.
Indeed, a key strength for Reddit is the breadth of communities available - if you can think of a topic, there's likely a subreddit for it. And the members within these communities are highly engaged, which provides significant opportunity to reach specific markets with your Reddit campaigns.
That's already gaining advertiser attention - as reported by The Wall Street Journal:
"The company’s ad revenue totaled more than $100 million in 2019 and is on track to rise by more than 70% this year."
It may not be your prime platform of focus, but there's clearly a level of opportunity in Reddit ads, and with the company working to clean-up its platform, and provide a more advertiser-friendly environment, it may be worth another look in 2021, as you consider your outreach options.