rddt vs meta arpu
about 4 hours ago
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I'll compare ARPU for Reddit (RDDT) and Meta (META). ARPU = Revenue / Users, so I need revenue data for both plus user counts (DAU for Reddit, DAP for Meta). Let me gather the data.
Let me try the compressed filing summary for both.
The SEC filings don't have direct data, so I'll use Meta's reported ARPP and compute Reddit's ARPU. Let me get Reddit's DAUq from the 10-Q filings.
Let me try a broader search approach.
I now have enough data to build the comparison. Let me get the historical ARPU data and compute the comparison.
I have enough data now. Let me compile and compute the ARPU comparison.
RDDT vs META — ARPU / ARPP Comparison
Quarterly average revenue per user (USD per quarter).
| Period | META ARPP (Family) | RDDT ARPU (Global) | META / RDDT |
|---|---|---|---|
| Q2 22 | 8.32 | — | — |
| Q3 22 | 8.71 | — | — |
| Q4 22 | 7.59 | — | — |
| Q1 23 | 8.63 | — | — |
| Q2 23 | 7.53 | — | — |
| Q3 23 | 7.91 | — | — |
| Q4 23 | 7.72 | — | — |
| Q1 24 | 9.47 | 2.94 | 3.2× |
| Q2 24 | 10.68 | 3.08 | 3.5× |
| Q3 24 | 11.89 | 3.58 | 3.3× |
| Q4 24 | 12.29 | 4.21 | 2.9× |
| Q1 25 | 11.20 | 3.63 | 3.1× |
| Q2 25 | 12.33 | 5.04 | 2.4× |
| Q3 25 | 14.25 | 5.98 | 2.4× |
| Q4 25 | 16.56 | 5.98 | 2.8× |
| Q1 26 | 15.66 | 5.23 | 3.0× |
Key takeaways
- Meta's ARPP is roughly 3× Reddit's ARPU on a like-for-like quarterly basis. The gap reflects (1) Meta's much larger advertiser base, (2) more mature ad targeting/measurement, and (3) Meta's Family includes 4 highly monetized apps (FB, IG, Messenger, WhatsApp) vs Reddit's single surface.
- Both are growing fast: Meta Q1'26 ARPP +27% YoY ($15.66 vs $12.36 prior); Reddit Q1'26 ARPU +44% YoY ($5.23 vs $3.63).
- The gap is narrowing. META/RDDT ratio fell from 3.5× in Q2'24 to ~2.4× by mid-2025 before re-widening slightly to 3.0× in Q1'26.
- U.S. only (where both monetize at premium): Reddit U.S. ARPU $9.63 in Q1'26, still a fraction of Meta's U.S./Canada ARPU.
Caveat on definitions: Meta's Family ARPP uses MAP (Monthly Active People across FB+IG+Messenger+WhatsApp), while Reddit uses DAUq (Daily Active Uniques). Meta also recast its ARPP methodology starting Q1'24 (now uses DAP avg). Pre-2024 Meta figures are MAP-based; post-Q1'24 are DAP-based — directionally consistent but not strictly comparable across that break.
Sources: Meta Q4'23, Q4'24, Q1'26 earnings presentations & press releases; Reddit Q1'24–Q1'26 shareholder letters.
about 3 hours ago