Reddit is making a significant move into the sports marketing industry, announcing new partnerships with several prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting on Monday, Reddit users will have access to a variety of exclusive content, such as game and tournament video highlights, player Q&A sessions, behind-the-scenes videos, and special updates from the leagues during their seasons and major events.
The platform boasts over 1,000 active communities focused on sports, with user engagement in these forums seeing a notable increase. Reddit reported a 26% rise in screenviews within sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, potentially exceeding $55 billion by 2030, as fans increasingly seek out sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In preparation for its public offering, Reddit has been exploring various revenue opportunities, including a $60 million-per-year AI licensing agreement with Google announced in February. Following the unveiling of its new sports partnerships, Reddit’s stock experienced a nearly 7% increase.
Key figures from Reddit’s sports engagement include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) within global sports subreddits
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.