EMarketer reports that users of different social networks are slowly spending more time on Reddit than any other social platform. In the USA, Reddit was the platform with the most average time spent on by users in June 2024. It is predicted that Reddit users are going to spend 11.0% more average time on the platform by the end of this year.
The average time spent on Reddit daily is 31 minutes in June 2024 while it was 28 minutes in 2023. Reddit went public in March 2024 and since then, it has improved a lot of features and done partnerships with other companies to generate more revenue. It also introduced Dynamic Product Ads to help boost their ads and target potential customers. Due to this, Reddit revenue is expected to reach 27.9% or $741.2 million in revenue.
In comparison to the 11.0% increase in average time spent on Reddit daily, Instagram also saw an increase of 1.3% while Facebook and TikTok saw a negative decrease of 1.2%. X recorded -3.8% average time spent while Snapchat reported -4.5%
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