Reddit Announces New Partnership with DoubleVerify to Offer More Assurance on Ad Metrics
As it looks to advance its ad offerings, and maximize its revenue potential, Reddit has announced a new partnership with DoubleVerify to provide third-party verification of its ad metrics.
DoubleVerify’s tools will facilitate new insights on viewability, brand safety, fraud detection and more, providing an extra level of assurance for Reddit’s ad partners.
As explained by Reddit:
“Marking another chapter in Reddit’s ongoing commitment to meet the needs of our partners, this collaboration will test and expand measurement for Reddit advertisers. In addition to our existing third-party verification offering with Oracle, DoubleVerify will deliver its full suite of viewability, invalid traffic and brand safety measurement services to Reddit’s global advertising partners.”
Double Verify, meanwhile, says that the new partnership will enable brands to:
- Protect Brand Equity – DV’s brand safety and suitability solution protects media buys from objectionable or unsuitable content, safeguarding reputation and brand equity.
- Fight Potential Fraud – For advertising to perform, it must be seen by real people – DV identifies and protects against fraud and IVT, from hijacked devices to bot manipulation.
- Ensure Ads are Seen – DV provides comprehensive viewability measurement, offering clarity into whether an ad has the opportunity to be seen and shedding light on its impact.
- Deliver to the Right Geo – DV’s tools can determine whether or not an ad appeared outside a campaign’s intended geography or block those ads from running.
That could help Reddit advertisers better plan and maximize their ad budgets, and help Reddit attract more ad investment.
In addition, Reddit says that it will work with DoubleVerify to develop an entirely new brand safety solution, adding more measurement capacity to its process.
Reddit’s been working to maximize its reach into new business opportunities, through a range of initiatives designed to clean up the platform and make it a more appealing proposition for brands.
Back in 2020, the platform removed thousands of its most controversial subreddits, which helped to distance itself from such elements – but at the same time, that has seemingly had an impact on usage, with Reddit going from 430 million monthly active users in December 2019, to 50 million daily actives now.
Monthly and daily user stats aren’t directly comparable, of course, but for context, Facebook has 1.96b daily active users, and 2.94b monthly actives, meaning that 67% of its total active users are active every day. Using that same DAU/MAU conversion rate Reddit would mean that it now sees around 76 million monthly actives, which seems like a big drop – but essentially, it seems very unlikely that Reddit is still seeing 400 million+ monthly users.
Still, with over 100,000 highly engaged subreddits, on a wide range of topics, there is significant outreach potential there, and this new partnership will provide more assurance on your Reddit ads performance.
Reddit says that it will integrate its new Double Verify solutions ‘over the coming months’, with full availability expected in 2023.