Reddit is the enigmatic social channel famous for its eclectic sub communities, i.e. subreddits, and its Ask Me Anything (AMA) events. Yesterday Reddit announced that it brought in $8.3 million in ad revenue last year. Reddit will donate 10% that advertising revenue to 10 charities of its users’ choosing.
Reddit says it will donate $827,000 to charities
— Charlie G (@TakePrivate) February 18, 2015
@reddit You never cease to amaze me! Thank you for donating to charity and caring what people think. <3
— Kimberly Danner (@LittleMeilee) February 18, 2015
Despite not turning a profit, Reddit plans to donate 10% of its ad revenue to non-profit organizations this year.
— Google Facts (@googlefactse) February 16, 2015
Reddit will donate 10% of their ad revenue to charities. Like all the cat pics were not enough to make us like them already. ?
— sunu (@tarashish) February 18, 2015
Leave it to reddit to announce $8.3 million in ad revenues last year and then announce it’s donating 10% to charity …
— SmithMediaStrategies (@SmithMediaNY) February 18, 2015
Many of the various communities that comprise the site are notorious for their disdain for promotional rhetoric. Aside from banner ads, Reddit’s marketing potential has been largely lead by the various AMAs, events where individuals ranging from authors to brands and politicians field and answer questions from the Reddit community. Brands have been wary of these AMA events, understandably so considering the pointedness of some of the questions. Despite the volatility of the platform, Reddit brought in serious cash last year, with much of its ad inventory apparently booked for the rest of this year, by some estimates.
@reddit_Ads Hey, is there a reason why some subreddits have their inventory sold out until 2017?
— BIG BUFF CRUSH (@PartTimeHobo) February 15, 2015
Making Reddit Ads, A lot of inventory taken up; I don’t know how you’d plan around this
— Vidyasagara Ayers (@dilybihotoxo) February 16, 2015