Reddit is making a significant move into the sports marketing industry, announcing new partnerships with major sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Users of the platform will gain access to video highlights from various games and tournaments, as well as player Q&A sessions, behind-the-scenes footage, and exclusive content released by the leagues during their seasons and significant events.
Reddit has reported having over 1,000 active communities focused on sports, with a notable increase in interest. The platform indicated that screenviews for sports-related forums surged by 26% in the past year.
The sports marketing sector is projected to grow over 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
As Reddit prepares for a public offering, it is exploring various revenue-generating avenues. Earlier this year, the company secured a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7%.
Key figures include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews on sports forums in the past year
– 249 million monthly engagements in sports subreddits worldwide
– An estimated $55 billion value for the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.