A data licence is a run-off asset: the contracted revenue stops when the term does, so the renewal is where the price is set
Reddit's contracted revenue still to be recognised on its long-term content licences fell from $92.1 million at 30 June 2026 to $62.4 million at 30 September 2026, with $31.9 million due in the last quarter of 2026 and $30.5 million in all of 2027, and nothing counted beyond 2027. Its 10-Q says substantially all of that contract value comes from two partners whose agreements 'are approaching the end of their respective current terms' and that Reddit may choose not to renew if the terms are not in its long-term interests. The previous quarter's 10-Q had warned a renewal might come 'using fewer services at lower pricing'.
Dated 30 Oct 2026Source checked 30 Oct 2026Basis: indicative
“We expect to recognize $31.9 million in the remainder of 2026 and $30.5 million in 2027.”
Reddit, Inc., Form 10-Q for the quarter ended 30 September 2026, note on revenue (remaining performance obligations), checked 30 Oct 2026
Reddit, Inc., Form 10-Q for the quarter ended 30 September 2026, risk factors on content licensing, checked 30 Oct 2026
Reddit, Inc., Form 10-Q for the quarter ended 30 June 2026, risk factors on content licensing, checked 31 Jul 2026
- Reddit other revenue (mostly data licensing, plus products sold directly to users), third quarter of 2026, all licensees
- Reddit: other revenue, Q3 2026
- Reddit: remaining performance obligations (contracts over one year, mainly content licensing), as of September 30, 2026
- Reddit: licensing contracts: the two partners that hold the contract value, and where their terms stand, as of 30 Sep 2026
- Reddit's contracted revenue still to be recognised on contracts longer than one year, mainly content licensing, was $62.4 million at 30 September 2026, down from $92.1 million at 30 June 2026. $31.9 million falls in the rest of 2026 and $30.5 million in 2027. The same 10-Q says substantially all of the licensing contract value comes from two partners whose agreements are approaching the end of their current terms.
- Reddit: other revenue, Q2 2026
It is shown on its own, not counted into a figure.