Reddit is making significant strides into the sports marketing arena.
On Monday, the social media platform revealed a series of new collaborations with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to various exclusive content, such as video highlights from games and tournaments, player AMA sessions, behind-the-scenes videos, and other special features shared by the leagues during their seasons and major events.
Reddit highlighted that it has over 1,000 active communities focused on sports, with a notable increase in engagement within these forums. The platform reported a 26% rise in screenviews of sports-related content over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue as it prepares for a public offering, Reddit previously secured a $60 million-per-year AI licensing deal with Google in February. Following this latest announcement regarding sports partnerships, Reddit shares rose nearly 7% on Monday.
Key stats include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports-related content in the past year
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion estimated market value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.