Reddit is making a significant move into the sports marketing industry, announcing new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users can enjoy access to video highlights from various games and tournaments, player AMA (ask me anything) sessions, behind-the-scenes content, and exclusive materials shared by the leagues during their seasons and major events.
The platform highlighted its engagement in the sports category, boasting over 1,000 active communities dedicated to sports. Interest in these forums has surged, with screenviews for sports-related discussions increasing by 26% in the past year.
The sports marketing sector is projected to grow more than 20%, reaching a worth of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring new revenue streams in preparation for its public listing, recently securing a $60 million-per-year AI licensing agreement with Google back in February. Following the announcement of its new sports partnerships, Reddit saw its shares rise nearly 7%.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit.
– 20.4 billion: Screenviews of sports-related forums over the past year.
– 249 million: Monthly engagement activities (posts, votes, comments) within global sports subreddits.
– $55 billion: Projected value of the sports marketing sector by 2030.
– $243 million: Reddit’s reported first-quarter revenue.