Reddit is making a significant move into the sports marketing industry, having announced several new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will gain access to various exclusive content, such as video highlights from games and tournaments, player AMA sessions, behind-the-scenes footage, and additional special content shared by the leagues throughout their seasons and major events.
The platform boasts over 1,000 active sports communities, with a notable surge in interest. Reddit reported a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching over $55 billion by 2030, with fans primarily accessing sports content through platforms like YouTube, Facebook, and X (formerly Twitter).
As Reddit prepares for its public offering, it has been exploring new revenue avenues, including a $60 million annual AI licensing agreement with Google established in February. Following the announcement of these new partnerships, Reddit shares rose nearly 7% on Monday.
In summary, the recent statistics highlight the following:
– 1,000: The number of sports-related Reddit forums.
– 20.4 billion: Screenviews by Reddit users on sports-related forums in the past year.
– 249 million: Monthly engagements (posts, votes, comments) across sports subreddits worldwide.
– $55 billion: Estimated worth of the sports marketing sector by 2030.
– $243 million: Reddit’s revenue reported for the first quarter.