Reddit is making a significant entry into the sports marketing industry. On Monday, the platform unveiled new partnerships with several prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
These collaborations will provide Reddit users with access to a variety of exclusive content, such as video highlights from games and tournaments, player Q&A sessions, behind-the-scenes footage, and more throughout the seasons and major events.
The platform reported that it has over 1,000 active communities focused on sports, with participation in these forums seeing a 26% increase in screenviews over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030. Fans currently gravitate towards platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In its efforts to boost revenue as it prepares for a public offering, Reddit recently secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Total screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue in the first quarter of this year.