Reddit is making a significant move into the sports marketing industry as it announced multiple partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will be able to access video highlights from games and tournaments, participate in player AMAs (Ask Me Anything sessions), view behind-the-scenes content, and enjoy other unique material shared by these leagues throughout their seasons and major events.
The platform revealed that it hosts over 1,000 active communities focused on sports, and interest in these forums has surged. Screenviews of sports-related conversations have increased by 26% over the past year, indicating a growing appetite for sports content among Reddit users.
The sports marketing industry is poised for substantial growth, expected to rise by over 20% to a valuation exceeding $55 billion by 2030. Fans are increasingly using platforms like YouTube, Facebook, and X (formerly Twitter) to engage with sports content.
In its quest to enhance revenue ahead of a potential public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of these new sports partnerships, Reddit’s shares climbed nearly 7% on Monday.
Key statistics reveal the increasing engagement on Reddit in the sports domain:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews in sports-related forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.