Reddit is making a significant entry into the sports marketing arena with the announcement of new partnerships with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These collaborations will provide Reddit users with access to a range of exclusive content, including video highlights from games and tournaments, player Ask Me Anything (AMA) sessions, behind-the-scenes videos, and other special content shared by the leagues throughout the seasons and major sporting events.
Reddit currently boasts over 1,000 active communities dedicated to sports, and engagement in these forums has surged. The platform reported a 26% increase in screen views of sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
To bolster its revenue, Reddit has been exploring new opportunities, including a $60 million-per-year AI licensing agreement with Google established in February. Following the announcement of these sports partnerships, Reddit’s shares rose nearly 7%.
Here are some key statistics:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Total screen views of these sports forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter.