Reddit’s 2024 statistics show rapid growth in daily and weekly reach, rising revenue, and a large volume of community activity. The figures below cover quarterly business results, first- and second-half transparency reporting, and selected community and advertising measures. Unless otherwise noted, the source labels are Reddit’s published results or shareholder materials; the supplied research record identifies these figures as legacy research that was not independently verified.
Contents
- Audience and reach
- Revenue and financial performance
- United States and international audiences
- Community participation and messaging
- Reports, removals, and legal requests
- Moderators, communities, and Reddit Pro
- Advertising performance
Audience and reach
Reddit reported 82.7 million daily active uniques (DAUq) in Q1 2024, a 37% year-over-year increase. Weekly active uniques (WAUq) reached 306.2 million, up 40%. In Q2, DAUq rose to 91.2 million, up 51%, while WAUq reached 342.3 million, up 57%.
Growth continued in the second half of the year. Q3 DAUq was 97.2 million, up 47%, and WAUq was 365.4 million, up 53%. Q4 DAUq reached 101.7 million, up 39%, while WAUq reached 379.4 million, up 42%.
| Quarter | DAUq | Year-over-year change | WAUq | Year-over-year change |
|---|---|---|---|---|
| Q1 2024 | 82.7 million | 37% | 306.2 million | 40% |
| Q2 2024 | 91.2 million | 51% | 342.3 million | 57% |
| Q3 2024 | 97.2 million | 47% | 365.4 million | 53% |
| Q4 2024 | 101.7 million | 39% | 379.4 million | 42% |
Source: [Reddit Q1 2024 results], [Reddit Q2 2024 results], [Reddit Q3 2024 results], and [Reddit Q4 2024 results]. The Q4 results also described Reddit as having approximately 101+ million daily active unique visitors and more than 100,000 active communities.
Revenue and financial performance
Reddit’s quarterly revenue increased from $243.0 million in Q1 2024 to $427.7 million in Q4. The year-over-year growth rates reported for those quarters were 48% and 71%, respectively. Advertising remained the largest reported revenue category: ad revenue was $222.7 million in Q1, $253.1 million in Q2, $315.1 million in Q3, and $394.5 million in Q4.
Other revenue was $28.1 million in Q2, up 691% year over year, and $33.2 million in Q3, up 547%. Q4 other revenue was also $33.2 million. These figures are reported categories and are not a reconstruction of total revenue.
Gross margin was 88.6% in Q1, up 500 basis points year over year; 89.5% in Q2, up 530 basis points; 90.1% in Q3; and 92.6% in Q4, up 420 basis points. Q1 net loss was $575.1 million, while Q2 net loss was $10.1 million. Reddit reported Q3 net income of $29.9 million and an 8.6% net margin, followed by Q4 net income of $71.0 million and diluted earnings per share of $0.36.
Adjusted EBITDA was $10.0 million in Q1, $39.5 million in Q2, $94.1 million in Q3, and $154.3 million in Q4. The Q3 Adjusted EBITDA margin was 27.0%, and the Q4 margin was 36.1%. Operating cash flow was $32.1 million in Q1, $28.4 million in Q2, $71.6 million in Q3, and $90.0 million in Q4. Free cash flow was $29.2 million, $27.2 million, $70.3 million, and $89.2 million in the same quarters. Reddit reported $1,670.4 million in cash, cash equivalents, and marketable securities at the end of Q1.
Source: [Reddit Q1 2024 results], [Reddit Q2 2024 results], [Reddit Q3 2024 results], and [Reddit Q4 2024 results].
United States and international audiences
The quarterly results separate U.S. and international performance. In Q1, U.S. revenue was $199.8 million, up 53% year over year, compared with international revenue of $43.2 million, up 30%. U.S. DAUq was 41.5 million, up 45%, and international DAUq was 41.2 million, up 30%.
In Q2, U.S. revenue reached $227.1 million, up 54%, and international revenue reached $54.1 million, up 55%. U.S. DAUq was 44.8 million, up 50%, while international DAUq was 46.4 million, up 52%.
In Q3, U.S. DAUq was 48.2 million, up 51%, while international DAUq was 49.0 million, up 44%. In Q4, U.S. revenue was $347.7 million, up 70%, and international revenue was $80.0 million, up 76%. U.S. DAUq was 48.0 million, up 32%, and international DAUq was 53.7 million, up 46%.
| Quarter | U.S. ARPU | International ARPU |
|---|---|---|
| Q1 2024 | $4.77, up 3% | $0.53, up 15% |
| Q2 2024 | $4.55, up 5% | $0.63, up 20% |
| Q3 2024 | $5.88, up 12% | $1.32, up 16% |
| Q4 2024 | $7.04, up 28% | $1.67, up 25% |
DAUq also included logged-in and logged-out audiences in Q1. Logged-in DAUq was 39.6 million, up 27% year over year, and logged-out DAUq was 43.1 million, up 48%. Q1 U.S. WAUq was 151.3 million, up 53%, while international WAUq was 154.9 million, up 30%.
Source: [Reddit Q1 2024 results], [Reddit Q2 2024 results], [Reddit Q3 2024 results], and [Reddit Q4 2024 results].
Community participation and messaging
Reddit’s H1 2024 Transparency Report recorded 1,898,733,057 posts and comments created by Redditors during the first half of the year. That was up 5.6% from the second half of 2023. In H2 2024, Redditors created 2,032,304,294 posts and comments, up 7.0% from H1.
Private messaging also increased between the two 2024 reporting periods. Redditors sent 492,936,835 private messages in H1, up 25.4% from H2 2023, and 522,221,447 in H2, up 5.94% from H1. The H1 report recorded 2,941,786,605 chat messages exchanged. In H1, admins removed 1,916,414 chat messages, and Reddit automation initially flagged 88.4% of the removed chat messages.
Admins removed 7,854,199 private messages for Content Policy violations in H1, up 198.5% from H2 2023. Of those removed H1 private messages, 98.67% were spam. In H2, admins removed 2,788,652 private messages, down 64.49% from H1, and 97.4% of removed private messages were spam.
Source: [Reddit Transparency Report H1 2024] and [Reddit Transparency Report H2 2024].
Reports, removals, and legal requests
Reddit received 16,070,307 user reports in H2 2024. Admins actioned 9.3% of those reports. The report provides this action rate for H2; it does not establish that the same rate applied to another period.
The H2 transparency report also recorded 126 legal demands from private parties, down 12% from the prior reporting period. The United States sent 44 private-party legal requests, the United Kingdom sent 28, and Germany sent 11. Reddit removed 41% of content identified in private-party legal requests and declined to action 58%.
These categories describe different forms of activity: user reports are platform reports, private-party legal demands are legal requests, and removed private messages are a moderation outcome. They should not be combined into one overall removal or enforcement rate.
Source: [Reddit Transparency Report H2 2024].
Moderators, communities, and Reddit Pro
Reddit’s Q4 2024 results stated that the platform had more than 100,000 active communities. The same source described approximately 101+ million daily active unique visitors. These are company-reported scale measures and are distinct from the quarterly DAUq and WAUq figures above.
More than 60,000 daily active moderators were reported in Q1 2024. In a Q1 shareholder-letter example, r/AskReddit had 46 million members when Reddit launched its post guidance tool there. Tests of that tool reduced content that would have been removed by a human moderator by 20% in r/AskReddit.
More than 1,000 businesses had onboarded Reddit Pro by the end of Q1 2024. The supplied Q1 shareholder-letter figures therefore connect platform scale with both volunteer moderation and business participation, while the r/AskReddit result is specifically a test outcome rather than a platform-wide estimate.
Source: [Reddit Q1 2024 shareholder letter] and [Reddit Q4 2024 results].
Advertising performance
Reddit reported U.S. ARPU of $4.77 in Q1, $4.55 in Q2, $5.88 in Q3, and $7.04 in Q4. The corresponding international ARPU figures were $0.53, $0.63, $1.32, and $1.67. The reported year-over-year changes were 3%, 5%, 12%, and 28% for U.S. ARPU, and 15%, 20%, 16%, and 25% for international ARPU.
In an internal test described in Reddit’s Q1 2024 shareholder letter, free-form ads outperformed other ad types by 28% in average click-through rates. The source characterizes this as an internal test, so it should not be read as a universal result across every campaign or advertiser.
A Just Eat Takeaway campaign drove a 10-point lift in ad awareness on Reddit, according to the same shareholder letter. This is a campaign-specific lift and does not represent an average platform-wide advertising effect.
Across the year, ad revenue increased from $222.7 million in Q1 to $394.5 million in Q4. The reported year-over-year growth rates were 39%, 41%, 56%, and 60% for Q1 through Q4, respectively. Revenue, ARPU, click-through performance, and ad awareness measure different parts of the advertising business and are kept separate here.
Source: [Reddit Q1 2024 shareholder letter], [Reddit Q1 2024 results], [Reddit Q2 2024 results], [Reddit Q3 2024 results], and [Reddit Q4 2024 results].