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Reddit Falls Short of Ad Growth Targets Ahead of Likely 2024 IPO (www.theinformation.com)

submitted 11 months ago by return2ozma@lemmy.world to c/technology@lemmy.world

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[–] flumph@programming.dev 20 points 11 months ago (3 children)

Reddit expects to finish this year with ad revenue ... slightly over $800 million... Reddit had said two years ago it aimed to exceed $1 billion in ad revenue by 2023...

So they missed their two year goal by 20%. They had forecasted a 2.9x growth and achieved 2.3x

When it comes time to IPO, they'll just blame the economy and ad blockers, while showing how many users they forced into their app where ad blocking is harder.

[–] porksoda@lemmy.world 18 points 11 months ago (3 children)

while showing how many users they forced into their app where ad blocking is harder.

Laughs in DNS-level blocking

[–] drasticpotatoes@lemmy.dbzer0.com 9 points 11 months ago

Me too, except along with ads I also blocked Reddit and many other trash websites.

[–] ARk@lemm.ee 1 points 11 months ago

harder not impossible

[–] flumph@programming.dev 1 points 11 months ago

Yeah. I use DNS-level blocking too, but it's not something I can roll out to my non-technical family members. They understand turning off the browser extension if things don't work, but not adding a DNS whitelist and then waiting / clearing DNS.

[–] pelespirit@sh.itjust.works 5 points 11 months ago (1 children)

Thanks for the info. Can advertisers tell if it's bots or not? I would think the new users are just them making stuff up.

[–] cashews_best_nut@lemmy.world 7 points 11 months ago* (last edited 11 months ago)

I still visit on my permabanned 15yo account. The number of repost bots is getting crazy. There's bots mirroring videos now to trick repost detectors (seen 3 this evening). It's getting so bad I rarely bother with reading comments now.

Also it gets brigaded and 'psyoped' by outside actors so much. News and worldnews are IDF operations now with anyone saying anything uncontroversial like "babies shouldn't be killed" getting banned for anti-Semitism.

[–] unconsciousvoidling@sh.itjust.works 4 points 11 months ago

I think this will make them enshittify the site even harder to squeeze more ad revenue out of it. Which could be a good thing for lemmy growth.