Reddit is making a significant move into the sports marketing industry. On Monday, the social media platform revealed several new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Users on Reddit will gain access to a variety of exclusive content, such as video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and other unique materials released by the leagues throughout their seasons and during major events.
The platform reported having over 1,000 active communities focused on sports, with activity in these forums seeing a notable boost. In the past year, screenviews of sports-related forums surged by 26%.
The sports marketing industry is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring new revenue streams as it prepares for a public offering. Earlier this year, it entered into a $60 million annual AI licensing agreement with Google. Following a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year. Reddit’s shares saw an almost 7% increase on Monday in response to the announcement of its new sports partnerships.
Key Statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the last year
– 249 million: Monthly engagements in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter