Reddit is making a significant move into the sports marketing arena with the announcement of new collaborations with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Users of the platform will now have access to a variety of content, including video highlights from games and tournaments, AMAs (Ask Me Anything sessions) with players, behind-the-scenes footage, and exclusive content from the leagues throughout their respective seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, reflecting a growing interest among users. In the past year, screenviews of sports-related forums on Reddit surged by 26%.
As the sports marketing sector is projected to see a growth of over 20%, reaching a value of more than $55 billion by 2030, fans are increasingly using platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
To bolster revenue during its move toward a public offering, Reddit previously entered into a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, the company saw its shares rise nearly 7% on Monday.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of sports forums over the past year
– 249 million monthly engagements in sports subreddits worldwide
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue