Reddit introduced AI-powered ad tools at the Cannes Lions International Festival of Creativity to provide insights and leverage user-generated content.
Reddit Insights offers real-time insights for marketers to plan campaigns by identifying trends and testing ideas.
Conversation Summary Add-Ons allow brands to display positive user-generated comments below ads for authenticity.
Alpha tests showed a 19% higher click-through rate with these features.
Jen Wong, Reddit's COO, highlighted the platform's quick response to world events benefiting businesses.
Platforms like Reddit, Snap, and Pinterest aim to provide real-time ad tools to meet brand demands and attract SMBs.
WPP media reduced ad growth expectations due to geopolitical and economic challenges, while Reddit expects strong Q2 revenues with new ad tools post-IPO.
Reddit is developing generative AI tools like Reddit Answers to offer AI-generated summaries linked to conversations.