The company logo for Reddit is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 15, 2024. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights, opens new tab
June 16 (Reuters) - Reddit launched two new AI-powered advertising features on Monday aimed at helping brands drive greater engagement by tapping user conversations on the platform, the company said.
The company said its AI-driven tool, "Reddit Insights", would provide real-time insights to marketers for planning campaigns by identifying trends on the platform and testing campaign ideas.
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It will also provide a feature called "Conversation Summary Add-ons", allowing brands to integrate "positive" user comments directly under the ads to show what they think about the ad subject.
Platforms such as Reddit, Snap
(SNAP.N), opens new taband Pinterest
(PINS.N), opens new tabare leaning on AI-driven ad targeting tools to attract marketers in a fiercely competitive ad market amid economic uncertainties.
Reddit's announcement comes after WPP Media trimmed its forecast for global ad revenue growth to 6% from its prior target of 7.7% due to uncertainties related to changing U.S. trade policies.
Brands are expected to prioritize flexible ad contracts and accelerate the adoption of AI tools in ad production and user targeting, the media investment arm of ad group WPP
(WPP.L), opens new tabsaid last week.
Last month, Reddit forecast second quarter revenue above Wall Street estimates, but CEO Steve Huffman said the company expected some disruption for traffic from Google search.
Reddit also launched new content moderation and analytics tools in March, aimed at helping people adhere to community rules and better understand content performance.
Reporting by Jaspreet Singh in Bengaluru; Editing by Saumyadeb Chakrabarty
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