Reddit is making a significant move into the sports marketing industry, announcing new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to various content, including game highlights, player Q&A sessions (known as AMAs), exclusive behind-the-scenes videos, and additional content shared by the leagues throughout their seasons and significant events.
The platform boasts over 1,000 active communities centered around sports, with a notable increase in engagement. Screenviews in sports-related forums have surged by 26% over the past year.
The sports marketing industry is projected to grow over 20%, reaching an estimated value of over $55 billion by 2030, with fans increasingly turning to platforms such as YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest for revenue growth ahead of a potential IPO, Reddit recently secured a $60 million-per-year AI licensing deal with Google. Following the announcement of its sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports-related forums over the past year
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion: estimated value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.