Reddit will take advantage of this year’s Cannes Film festival to pitch its relatively new advertising business to agencies and brands across the globe. The media giant will make its debut in a notable way by rolling out video ads with the help of its sales team, which will run on the self service ad buying platform, reported the Wall Street Journal.
“The site could be attractive to advertisers because its users are there for honest and open conversation in self-selected communities — people go by usernames rather than their real-life names in most cases — rather than trying to curate a perfect Instagram profile,” Reddit Co-Founder and Chairman Alexis Ohanian told Adweek.
For the first time in about eight years, Reddit has made a few improvements to its self service ad buying platform. These changes will enable advertisers to manage their own campaigns, access and make use of video ad metrics and experiment with different creative elements. They are also working with WPP’s Essence and Omnicom’s Resolution Media to create self-serve ad products for those agencies.
However, Reddit faces one key challenge in its push to win over brands and agencies, which is the content that is shared on the site. While some of the Reddit users might view the content as Open and honest, a few brands might consider it out of the safe zone and view it as content that pushes the limits which makes it not everyone’s cup of tea. In addition to this, Reddit users who have often been portrayed as being cynical and often resistant to change and set in their beliefs might not appreciate a higher volume of video ads flooding their site.
The marketing industry is particularly focused on brand safety given the recent YouTube boycott, which in turn cost YouTube 5% of its North American advertisers. As such Reddit has to work extra hard to convince advertisers to come on board.