June 16 (Reuters) - Reddit ( RDDT ) 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.
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 ( RDDT ), Snap and Pinterest ( PINS )
are leaning on AI-driven ad targeting tools to attract
marketers in a fiercely competitive ad market amid economic
uncertainties.
Reddit's ( RDDT ) 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 ) said
last week.
Last month, Reddit ( RDDT ) forecast second quarter revenue above Wall
Street estimates, but CEO Steve Huffman said the company
expected some disruption for traffic from Google search.
Reddit ( RDDT ) 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)