Reddit is making significant strides in the sports marketing industry with new partnerships announced on Monday that include major sports leagues such as the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to various content types, including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and seasonal content from the leagues.
The platform boasts over 1,000 active sports communities, which have seen a remarkable surge in engagement, with sports-related screenviews increasing by 26% in the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its quest to boost revenue, Reddit has explored various avenues since gearing up for an initial public offering (IPO), including a $60 million-per-year AI licensing deal with Google earlier this year. Following the announcement of the new sports partnerships, Reddit’s stock experienced an uptick of nearly 7%.
Key statistics include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screenviews in these forums over the last year
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion estimated worth of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue