Reddit, the popular online forum, is considering monetizing its search results pages in an effort to improve its revenue streams. With over 1 billion monthly searches on the platform, Reddit sees advertising against user searches as a logical next step after enhancing the core search experience.
This move by Reddit could present a lucrative opportunity for advertisers. By targeting users with high intent, advertisers can effectively reach their desired audience. Additionally, this presents an alternative platform for advertisers who may be looking for diversity in their advertising options as trust in Google decreases.
Steve Huffman, CEO of Reddit, expressed his optimism about the potential of search ads on the platform during the company’s latest earnings call. He stated, “There are no ads today on search result pages. But that’s a very high-performing product elsewhere on the internet. And I think there’s no reason to believe that it wouldn’t be for Reddit because the intention is so explicit when users are searching.”
Before exploring monetization options like search ads, Reddit is first focused on upgrading its search functionality. This includes improving back-end performance, implementing autocomplete features, and revamping the user interface. The platform believes that nailing the search user experience is crucial before introducing any advertising options.
As Reddit improves its search capabilities and leverages explicit search intent signals, it sees advertising as a natural complement. The platform aims to enhance discovery for users while also providing valuable advertising opportunities for businesses.
While a specific timeline for the introduction of search ads was not provided, Reddit appears committed to extracting more value from its massive search volume. Once its revamped search product takes shape, the platform will open up ad inventory to advertisers.
In conclusion, Reddit’s exploration of search ads presents an exciting opportunity for both the platform and advertisers. With its substantial search volume and plans for improving the search user experience, Reddit has the potential to offer a valuable advertising platform for businesses looking to target users with high intent. As the platform continues to upgrade its search functionality, advertisers should keep an eye on Reddit as a promising advertising opportunity.
