Reddit is making a significant move into the sports marketing arena. The platform recently revealed 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 these partnerships, Reddit users will gain access to a variety of content, such as game and tournament video highlights, player Ask Me Anything (AMA) sessions, behind-the-scenes videos, and exclusive material from the leagues throughout their seasons and key events.
The company noted that there are over 1,000 active communities dedicated to sports on its platform, with a marked increase in engagement. It reported a 26% rise in screenviews of sports-related forums over the past year.
The sports marketing sector is predicted to grow more than 20%, reaching a value of over $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
In its efforts to generate revenue ahead of a potential public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares saw an increase of nearly 7%.
In summary, here are some key figures:
– 1,000: Sports-related forums on Reddit
– 20.4 billion: Screenviews of sports forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.