Reddit is making a significant move into the sports marketing arena with the announcement of 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.
Starting Monday, Reddit users will gain access to a variety of exclusive content such as game and tournament video highlights, player Q&A sessions (known as AMAs), behind-the-scenes footage, and other special content shared by the leagues during their seasons and major events.
The platform has noted a surge in interest in sports-related content, boasting over 1,000 active sports communities. In the past year, screenviews for these forums have risen by 26%.
As the sports marketing sector is projected to grow by more than 20% and reach a value exceeding $55 billion by 2030, fans are increasingly turning to digital platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to boost its revenue ahead of plans for an initial public offering, Reddit has been exploring various monetization strategies, including a $60 million-per-year AI licensing deal with Google announced in February. Following the announcement of these new sports partnerships, Reddit shares rose nearly 7% on Monday.
Key Statistics:
– Number of sports-related Reddit forums: 1,000
– Total screenviews of sports forums over the past year: 20.4 billion
– Monthly engagements (posts, votes, comments) in sports subreddits: 249 million
– Projected value of the sports marketing sector by 2030: $55 billion
– Reddit’s first-quarter revenue: $243 million