Reddit is making a significant entry into the sports marketing arena. On Monday, the platform revealed new partnerships with major sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to a variety of content, such as game and tournament video highlights, player AMAs (ask me anything sessions), behind-the-scenes videos, and exclusive material shared by the leagues throughout their respective seasons and major events.
The company highlighted that it boasts over 1,000 active communities focused on sports, with engagement in these forums surging significantly. In the past year, screenviews for sports-related forums have escalated by 26%.
The sports marketing sector is projected to grow more than 20%, reaching an estimated worth of over $55 billion by 2030. Fans typically turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In a bid to increase its revenue ahead of plans to go public, Reddit had previously secured a $60 million-per-year AI licensing agreement with Google in February. Following a successful initial public offering, Reddit reported first-quarter revenues that were nearly 50% higher than the previous year. The announcement of the new sports partnerships led to a nearly 7% rise in Reddit’s shares on Monday.
Here are some key statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue