Reddit is making significant strides into the sports marketing industry. On Monday, the social media platform unveiled multiple partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As a result of these collaborations, Reddit users will gain access to various special content, such as video highlights from games and tournaments, player AMA (ask me anything) sessions, behind-the-scenes footage, and other exclusive material shared by the leagues during their seasons and major events.
According to Reddit, there are over 1,000 active communities dedicated to sports, and engagement within these forums has grown significantly, with a reported 26% increase in screen views over the past year.
The sports marketing sector is projected to experience growth of more than 20%, reaching an estimated value of over $55 billion by 2030. Fans are primarily turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In its efforts to enhance revenue ahead of an anticipated public offering, Reddit secured a $60 million annual AI licensing agreement with Google earlier this year. Following a successful IPO, Reddit reported first-quarter revenues almost 50% higher than the previous year. The announcement of the new sports partnerships led to a nearly 7% jump in Reddit’s shares on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screen views of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) within sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter