Market2026-10-29

Reddit will shift to a logged-in experience to protect its data from AI scraping. The move aims to boost ad revenue and personalize user feeds. Search traffic referrals dropped by over 1 million per week in October. US daily active users fell to 50.7 million in Q3. Global daily active users remained flat at 130.3 million. Revenue rose 53% year-over-year to $895 million. Net income grew 74% to $283 million. Logged-in users provide more signals for ad targeting. The change will first be tested outside the US in Q4. A logged-out front page will still be accessible. Incognito mode will remain available. CEO Steve Huffman called it a necessary evolution for the platform.

What changed

Reddit allowed full access to content without requiring users to log in.

What it unlocks

Reddit can now better target ads and personalize content for logged-in users.

  • 130.3M global daily active users in Q3
  • 50.7M US daily active users in Q3
  • 1M fewer search referrals per week in October
  • $895M revenue in Q3

What you need to act on it

  • tests in select non-US markets in Q4 2026

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