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Investing.com -- Amid uncertainties surrounding TikTok's future, Reddit and Snap have initiated a strategy to attract advertisers by offering discounts to those who increase their ad spend on these platforms.
Snap is providing a 20% return in free ad expenditure to advertisers who spend over $100,000 on their platform, according a report from the Information, citing three media buyers. Reddit, on the other hand, is offering a 10% return in ad credits for brands that spend between $150,000 and $1 million. For advertisers who spend more than $1 million, Reddit is giving back 15% in ad credits. However, these incentives are limited to a maximum of $500,000 and must be used by the end of January, according to a source.
While the sales representatives from Snap and Reddit did not explicitly express their intention to attract ads from TikTok, they emphasized that advertisers could reach the same demographic groups known to use TikTok.
In a related development, Pinterest (NYSE:PINS) is also reportedly targeting TikTok's audience. The platform has communicated to advertisers that half of TikTok's Gen Z audience also uses Pinterest.
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