Reddit is making a significant move into the sports marketing sector with new partnerships involving major sports leagues like the NFL, NBA, MLB, PGA Tour, and NASCAR.
On Monday, the social media platform revealed it would provide users with access to various content, including video highlights from games, player Q&A sessions, exclusive behind-the-scenes footage, and other special material from the leagues during their respective seasons and major events.
With over 1,000 active communities dedicated to sports, Reddit has seen a notable increase in user engagement within these forums. The site reported a 26% rise in screenviews of sports-related content over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In a bid to enhance its revenue ahead of a public offering, Reddit previously entered a $60 million-per-year AI licensing agreement with Google this past February. Following the announcement of its sports partnerships, Reddit’s shares jumped nearly 7%.
Here are some key statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews for sports-related forums over the past year
– 249 million: Monthly interactions (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter of this year