Reddit is making a significant move into the sports marketing arena. On Monday, the popular social media platform unveiled collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These partnerships will grant Reddit users access to a variety of exclusive content, such as video highlights from games, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other special material released by the leagues throughout their seasons and major events.
Reddit reported that it boasts over 1,000 active communities focused on sports, with a notable surge in engagement. Screenviews on sports-related forums have risen by 26% in the past year.
The sports marketing industry is anticipated to grow by more than 20%, reaching a valuation exceeding $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In an effort to bolster its revenue ahead of a public offering, Reddit has been exploring various initiatives, including a $60 million-per-year AI licensing agreement with Google announced in February. Following the announcement of its new sports partnerships, Reddit experienced a nearly 7% increase in stock shares on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Redditors’ screenviews of sports-related forums in the past year
– 249 million: Monthly engagements in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue