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Trends Reddit’s Rapid Social Media Rise
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Reddit’s Rapid Social Media Rise

Reddit experienced significant growth, overtaking X (formerly Twitter) and LinkedIn to become the fifth highest-reaching social media platform in the UK.

Themes

Authenticity and Transparency Reign Supreme , The Power of Community and Connection

Timeframe

near-term

Categories

Brands & Advertising Consumer Attitudes Digital Platforms

Subcategories

Consumer Behavior Market Trends Online Communities Social Media

Impact areas

Advertising online communities Social Media

Detailed Analysis

Reddit's reach among UK online adults increased by 47% year-on-year, reaching 22.9 million (48%) in May 2024. This surge was particularly pronounced among young adults (18-24: 71%; 25-34: 63%), propelling Reddit into their top ten online organizations for the first time. Several factors likely contributed to this growth, including Reddit's decision to charge for API access, which may have driven users from third-party apps to the main platform.

Context Signals

Reddit's IPO in March 2024 likely contributed to increased visibility and user growth. Quora, a similar knowledge-sharing platform, also experienced steady growth, reaching 31% of online adults by May 2024.

Edge

Reddit's focus on niche communities could attract advertisers seeking targeted audiences. The platform's growth may challenge established social media giants like Facebook and X. Reddit's potential as a news and information source warrants further investigation.
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TRENDS

Keywords

In July 2023, Reddit began charging for its Application Programming Interface (API) access. So developers who had created their own apps, populated with Reddit information using the API, such as subreddit information, posts, comments, and user profiles, could no longer do this for free.
Categories for this trend

Brands & Advertising

Consumer Attitudes

Digital Platforms