Reddit is making significant strides into the thriving sports marketing industry. On Monday, the social media platform unveiled a series of new collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will have access to an array of exclusive content, such as video highlights of games and tournaments, player Q&A sessions (known as AMAs), behind-the-scenes videos, and other special content shared by the leagues during their seasons and major events.
Reddit boasts over 1,000 active communities dedicated to sports, with a notable surge in user engagement. The platform reported a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to enhance revenue ahead of a potential public offering, Reddit has explored various strategies, including a $60 million annual AI licensing agreement with Google established in February. Following the announcement of the new sports partnerships, Reddit shares saw an increase of nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.