Reddit is making a significant move into the profitable sports marketing industry with the announcement of new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of engaging content, including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and exclusive material shared by the leagues during their respective seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, and engagement within these forums has surged. Reddit reported a 26% increase in screenviews of sports-related content over the past year.
The sports marketing sector is projected to grow by more than 20%, potentially reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In an effort to boost its revenues ahead of a public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, the company’s shares rose nearly 7%.
Here are some key statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter