Reddit is making a significant move into the sports marketing arena with a new set of partnerships. The platform announced partnerships with several prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will have access to a variety of features, including video highlights from games and events, player Q&A sessions, exclusive behind-the-scenes videos, and other unique content from the leagues throughout their respective seasons.
Reddit currently boasts over 1,000 active communities in the sports category, and engagement in these forums has grown considerably, with sports-related screenviews increasing by 26% over the past year.
The sports marketing sector is projected to surge by more than 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly looking to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its pursuit of revenue solutions ahead of a public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares saw an increase of nearly 7%.
Key statistics include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screenviews of these forums over the last year
– 249 million monthly engagements within sports subreddits worldwide
– $55 billion: projected value of the sports marketing sector by 2030
– $243 million: Reddit’s reported revenue for the first quarter.