Reddit is making significant strides into the sports marketing arena. On Monday, the social media platform revealed new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these partnerships, Reddit users will have access to an array of content including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and exclusive updates from the leagues during their seasons and major events.
Currently, Reddit boasts over 1,000 active communities focused on sports, with interest in these forums rising sharply. The platform has reported a 26% increase in screenviews of sports-related forums over the past year.
The sports marketing industry is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly utilizing platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
In its pursuit of new revenue streams ahead of a potential public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google in February. Following a successful initial public offering (IPO), Reddit’s first-quarter revenues showed a nearly 50% increase compared to the previous year. Following the announcement of the sports partnerships, Reddit’s shares rose by nearly 7%.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the past year
– 249 million: Monthly engagements in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue