Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday involving major sports leagues such as the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to a variety of content including video highlights from games and tournaments, player Q&A sessions, behind-the-scenes footage, and exclusive materials shared by the leagues during their seasons and major events.
Reddit reported that it has over 1,000 active communities dedicated to sports, and engagement in these forums has surged, with a 26% increase in screen views related to sports content over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value of over $55 billion by the year 2030, as fans increasingly flock to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In an effort to boost its revenue ahead of its planned public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit experienced a nearly 7% jump in its stock prices on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views of sports-related content on Reddit over the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.