Reddit is making a significant move into the sports marketing arena by announcing new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will enjoy access to a variety of exclusive content such as video highlights from games and tournaments, AMA sessions with players, behind-the-scenes videos, and more during the leagues’ seasons and special events.
The platform currently boasts over 1,000 active communities focused on sports, with a notable increase in user engagement in these forums. Screenviews on sports-related threads rose by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching over $55 billion by 2030, as fans increasingly turn to digital platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In preparation for its public offering, Reddit has been exploring new revenue sources, including a $60 million annual AI licensing agreement with Google established in February. Following the announcement of the new sports partnerships, Reddit’s stock saw a nearly 7% increase.
Key Statistics:
– 1,000: Number of sports-related subreddits
– 20.4 billion: Screenviews on sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected worth of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter