Reddit is making significant strides into the lucrative sports marketing industry. On Monday, the platform announced new partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these agreements, Reddit users will have access to video highlights from various games and tournaments, special Q&A sessions with players, behind-the-scenes footage, and other exclusive content from the leagues throughout their seasons and major events.
The platform boasts over 1,000 active sports communities, with a notable surge in engagement. According to Reddit, screenviews on sports-related forums have risen by 26% in the past year.
The sports marketing sector is projected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to enhance revenue, Reddit has been exploring various initiatives, including a $60 million annual AI licensing agreement with Google made in February. Following a successful initial public offering, Reddit reported first-quarter revenues nearly 50% higher than the previous year, and its shares rose nearly 7% after the announcement of the new sports partnerships.
Key statistics include:
– 1,000: The number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related content over the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.