Reddit is making a significant move into the sports marketing industry, unveiling new partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of this initiative, Reddit users will gain access to various content, including game and tournament video highlights, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other exclusive material that the leagues will share throughout their seasons and major events.
The platform boasts over 1,000 active sports-related communities, with a notable increase in engagement. Sports-related forums on Reddit have experienced a 26% rise in screenviews over the past year.
The sports marketing industry is projected to grow over 20%, reaching an estimated value of more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) to access sports content.
In its quest for growth, Reddit has been exploring various revenue streams, including a $60 million-per-year AI licensing agreement with Google announced in February. Following the announcement of the new sports partnerships, Reddit’s shares surged nearly 7% on Monday.
Key statistics include:
– 1,000: The number of sports-related Reddit forums.
– 20.4 billion: Screenviews of sports-related content on Reddit over the last year.
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide.
– $55 billion: The projected value of the sports marketing sector by 2030.
– $243 million: Reddit’s revenue in the first quarter of this year.