Reddit is making a significant move into the sports marketing industry. The platform unveiled several new partnerships on Monday with prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
In this initiative, Reddit users will gain access to a variety of content, including video highlights from games and tournaments, player AMA (Ask Me Anything) sessions, behind-the-scenes footage, and other exclusive content provided by the leagues throughout their seasons and significant events.
The platform highlighted that it has over 1,000 active communities dedicated to sports, with a notable increase in interest within these forums. Screenviews of sports-related content on Reddit rose by 26% in the past year.
The sports marketing sector is projected to grow more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Since gearing up for its public offering, Reddit has been exploring various revenue opportunities. Earlier this year, the company entered a $60 million-per-year AI licensing deal with Google. Following a successful IPO, Reddit reported that its first-quarter revenues were nearly 50% higher than in the previous year. After announcing its new sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related content on Reddit over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue.