Reddit is making a significant move into the sports marketing industry. On Monday, the platform unveiled new partnerships with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
This initiative will allow Reddit users to access a variety of engaging content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other exclusive content from the leagues throughout their seasons and key events.
The platform boasts over 1,000 active sports communities, and interest in these forums has surged. The site reported a 26% increase in screenviews for sports-related discussions 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, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for a public offering, it has been exploring new revenue streams. In February, it signed a $60 million per year AI licensing agreement with Google. Following a successful IPO, Reddit reported first-quarter revenues nearly 50% higher than the previous year, and shares saw a nearly 7% increase on Monday with the announcement of the sports partnerships.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews in sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue