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Reddit Set To Cross $1 Billion In Annual Revenue In 2024

Vyom Chaud
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The social media platform Reddit has successfully carved out a niche for itself in the market dominated by tech giants. According to the numbers presented by, Reddit is expected to cross $1 billion in annual revenue for the first time in 2024. Estimates predict that Reddit’s yearly revenue will touch $1.04 billion this year.

Annual Revenue set to increase by 28% in 2024

*Statista estimate

2024 is shaping up to be a significant year for Reddit. The social media company is not only launching an IPO this year but it is also expected to reach a billion dollars in annual revenue for the first time.

Reddit reported annual revenue of over $804 million in 2023. As per the estimates from data firm Statista, Reddit’s annual revenue will increase by over $236m to reach $1.04 billion in 2024. This change in revenue would indicate an increase of a massive 28% on a year-on-year basis.

The majority of Reddit’s revenue comes from ads. According to Statista, ads are expected to contribute $1.01 billion in revenue in 2024. Thus, ads are expected to make over 97% of the entire revenue this year. Reddit is expected to earn a mere $8.04 million from its API in 2024. The company started monetizing its API in 2023 only, and the API revenue is expected to increase steadily in the coming years. Furthermore, Reddit is also expected to earn a further 7.17 million from premium accounts. 

Reddit started as an online forum in 2005 and has grown into one of the most popular social sites in recent years. The company had plans to launch its IPO in the opening months of 2022. However, those plans were scrapped due to a downturn in digital ad revenues during the time. As things stand, the company has renewed its effort for an IPO by filing a public S-1 in February 2024, and it is looking at a valuation of at least $5 billion. 

Vyom Chaud
Vyom Chaud

Vyom Chaud left his IT job to follow his love for soccer. He has been writing about the beautiful game for the last 6 years contributing articles to The Daily Mail, Vocal, Fan Sided and many other publications. He can spin stories with numbers and thinks data is beautiful. An avid Arsenal fan, he spends most of his time dissecting the nuances of the game. He has played football, cricket and badminton at an amateur level.