Reddit is making a significant move into the sports marketing industry by forming new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR. This announcement was made on Monday, marking the platform’s deeper engagement with sports fans.
As part of these partnerships, Reddit users will gain access to a variety of content, including video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes footage, and exclusive content shared by the leagues during their seasons and major events.
Reddit has reported that it boasts over 1,000 active communities dedicated to sports, with a notable increase in user interest. The platform has seen a 26% rise in screenviews on sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value of over $55 billion by 2030, as fans increasingly seek out sports content on platforms like YouTube, Facebook, and X (formerly known as Twitter).
In an effort to enhance its revenue streams ahead of its anticipated public offering, Reddit struck a $60 million annual licensing deal with Google for AI technology earlier this year. Following the announcement of the new sports partnerships, Reddit’s shares climbed nearly 7%.
Key figures include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screenviews of these sports forums over the last year
– 249 million monthly engagements in global sports subreddits
– Estimated $55 billion market value for the sports marketing sector by 2030
– Reddit’s first-quarter revenue of $243 million