Reddit is making a significant entry into the sports marketing industry as it announced new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting this week, Reddit users will have access to a variety of sports content, including video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and additional exclusive material shared by the leagues during their seasons and major events.
The platform boasts over 1,000 active sports-related communities, with a notable 26% increase in screenviews within these forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as sports fans increasingly engage with content on platforms like YouTube, Facebook, and X (formerly Twitter).
In recent months, Reddit has actively sought innovative revenue streams in preparation for a potential public offering. Earlier this year, the company entered a $60 million annual AI licensing agreement with Google. Following the announcement of these sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key Statistics:
– 1,000: Number of sports-related subreddits on Reddit
– 20.4 billion: Screenviews of sports forums by Reddit users in the past year
– 249 million: Monthly engagements (including posts, votes, and comments) within sports subreddits worldwide
– $55 billion: Projected market value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter