Reach counts unique users rather than total impressions, so it never exceeds impressions and typically stays well below it once a campaign has run for more than a day or two. It's the denominator used to calculate frequency and is a key input when judging whether an audience is saturated.
Agencies scaling spend in a limited geography watch reach against total addressable audience size; when reach approaches audience size and CPMs start climbing, it signals the campaign needs a broader or lookalike audience rather than more budget on the same one.
ExampleAn ad shown to 50,000 distinct people has a reach of 50,000, regardless of how many times each saw it.
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