Reddit is making a significant move into the sports marketing arena. The social media platform recently unveiled several partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will be able to access video highlights from various games and tournaments, conduct player AMA sessions, and view behind-the-scenes content from the leagues during their seasons and at major events.
The platform boasts over 1,000 active communities focused on sports, which have seen a substantial increase in user engagement. In the last year, screenviews on sports forums have risen by 26%.
The sports marketing industry is projected to grow by more than 20%, reaching a market value of over $55 billion by 2030, as fans increasingly look to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to bolster its revenue streams ahead of a potential public offering, Reddit has been pursuing new opportunities, successfully securing a $60 million-per-year AI licensing deal with Google earlier this year. Following the announcement of the new sports partnerships, Reddit shares rose nearly 7%.
Key statistics include:
– Number of sports-related Reddit forums: 1,000
– Screenviews of sports-related forums in the past year: 20.4 billion
– Monthly engagements in sports subreddits globally: 249 million
– Projected value of the sports marketing sector by 2030: $55 billion
– Reddit’s first-quarter revenue: $243 million