Reddit is making a significant move into the sports marketing sector with several new partnerships announced on Monday. The social media platform will collaborate with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will have access to a variety of exclusive content, including video highlights from games and tournaments, player Q&A sessions, behind-the-scenes videos, and other unique materials from the leagues during their competitive seasons and special events.
Reddit reported that it has over 1,000 active communities related to sports, with a notable increase in engagement. Screenviews on sports forums surged by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a market value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to enhance revenue ahead of a public offering, Reddit previously entered into a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Here are some key statistics:
– 1,000: Number of sports-related forums on Reddit.
– 20.4 billion: Screenviews in sports-related forums over the past year.
– 249 million: Monthly engagements in sports subreddits worldwide.
– $55 billion: Projected value of the sports marketing sector by 2030.
– $243 million: Reddit’s revenue for the first quarter.