Reddit is significantly expanding its presence in the sports marketing industry.
On Monday, the social media platform unveiled several new partnerships with prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
These collaborations will allow Reddit users to access game and tournament video highlights, player AMA sessions, behind-the-scenes content, and additional exclusive material shared by the leagues during their seasons and major events.
Reddit emphasized that it boasts over 1,000 active communities focused on sports, with a notable surge in engagement within these forums. The platform reported a 26% increase in screenviews related to sports topics over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
Reddit has been exploring new revenue streams in anticipation of its public offering. Earlier this year, the company secured a $60 million annual AI licensing deal with Google. Following a successful IPO, Reddit reported first-quarter revenues nearly 50% higher than the previous year, and its shares rose nearly 7% on Monday after the announcement of these new sports partnerships.
In summary:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue