Reddit is making significant moves into the sports marketing arena.
On Monday, the platform revealed new partnerships with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These partnerships will provide Reddit users with access to video highlights from games, player ask-me-anything (AMA) sessions, behind-the-scenes footage, and exclusive content from each league during their respective seasons and major events.
Reddit boasts over 1,000 active sports communities, with interest in these forums seeing a notable surge. The platform reported a 26% increase in screen views across sports-related forums over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to boost revenue ahead of a public offering, Reddit has been exploring new business opportunities, including a $60 million annual AI licensing agreement with Google established in February. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7%.
Key Statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views of sports-related Reddit forums over the past year
– 249 million: Monthly interactions in sports subreddits globally
– $55 billion: Projected worth of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter