Reddit is making significant strides in the sports marketing arena with the announcement of new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
The social media platform revealed on Monday that users will have access to a variety of exclusive content such as video highlights from games and tournaments, player AMA sessions (ask me anything), behind-the-scenes videos, and other special features from these leagues during their respective seasons and major events.
Reddit highlighted its extensive engagement within the sports category, boasting over 1,000 active communities focused on sports. The platform noted a substantial increase in interest, with a 26% rise in screenviews on sports-related forums over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030. Fans are primarily engaging with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In pursuit of increasing revenue as it prepares for an initial public offering (IPO), Reddit recently entered a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, the company’s shares surged nearly 7% on Monday.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews on sports-related forums over the past year
– 249 million monthly engagements (posts, votes, comments) within global sports subreddits
– An estimated $55 billion market value for the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.