Reddit recently announced that they will be adding video advertising to their site.
It’s Reddit’s latest push to attract more ad dollars to its site. With the popularity of video continuing to excel, they have revamped their entire self-serve ad platform for the first time in eight years with the hopes of adding ads to their feeds as well as their discussions.
Reddit currently does not host any of their own videos on the site. However, they say that advertisers will be able to purchase these ads through their sales team as well as their self-serve platform. According to the company, clients have been thrilled since the new ad platform launched, and a spokesperson claimed that Universal Pictures and A24 were one of the first ones to test out the new format.
Boasting over 250 million users, Bloomberg report suggests that Reddit hopes this will help raise $150 million of new funding.