Reddit is making significant strides into the sports marketing arena with new collaborations. On Monday, the platform unveiled partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to various exclusive content, including video highlights from games, player Q&A sessions known as AMAs, behind-the-scenes footage, and more, which will be shared by the leagues during their respective seasons and key events.
The platform boasts over 1,000 sports-related communities, with a reported 26% increase in screenviews on these forums over the past year, indicating growing interest among users.
The sports marketing sector is projected to expand by over 20%, reaching an estimated value of more than $55 billion by 2030. Fans are primarily seeking sports-related content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to generate revenue ahead of a potential public offering, Reddit recently secured a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares rose by nearly 7%.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screenviews in sports-related forums over the past year
– 249 million: Monthly engagements in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter.