Reddit is making a significant move into the sports marketing industry, announcing multiple partnerships with some of the biggest sports leagues in the United States, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have the opportunity to access a variety of content, including video highlights from games, interactive AMAs with players, behind-the-scenes footage, and exclusive material from the leagues throughout their seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, and interest in these forums has surged, with a reported 26% increase in screenviews related to sports over the past year.
The sports marketing sector is projected to see substantial growth, estimated to reach over $55 billion by 2030. Fans predominantly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to generate revenue ahead of a potential 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% rise in share prices on Monday, reflecting investor interest.
Here are some key statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related content on Reddit over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter of this year