Reddit is making a significant move into the sports marketing industry with the announcement of several new partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will be able to access game and tournament video highlights, player AMAs (Ask Me Anything sessions), behind-the-scenes content, and other exclusive materials shared by the leagues during their seasons and major events.
The platform has highlighted that there are over 1,000 active communities centered around sports on its site, which have experienced a notable uptick in engagement. In the past year, screenviews of sports-related forums have surged by 26%.
The sports marketing sector is projected to expand by more than 20%, reaching a value exceeding $55 billion by the year 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
As Reddit prepares for a public offering, the company has been exploring various avenues to boost its revenue. Earlier this year, Reddit entered into a $60 million-per-year AI licensing agreement with Google. Following the announcement of these new sports partnerships, Reddit shares saw an increase of nearly 7% on Monday.
Key Statistics:
– 1,000 active sports-related subreddits
– 20.4 billion screenviews in sports forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million reported in Reddit’s first-quarter revenue