Reddit is making a significant move into the sports marketing industry, as the social media platform 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 a variety of content, including video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and special content shared by the leagues during their seasons and major events.
The platform reported having over 1,000 active sports communities, with a notable 26% increase in screen views on sports-related forums in the past year.
As the sports marketing sector is projected to grow by over 20% to exceed $55 billion by 2030, fans are increasingly looking towards platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a public offering, Reddit previously entered a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, Reddit’s stock experienced a nearly 7% rise.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views of sports-related Reddit forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Projected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.