Reddit is making a significant move into the sports marketing arena by announcing multiple new partnerships with prominent sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Beginning this week, Reddit users will have access to a variety of engaging content such as game and tournament video highlights, player “ask me anything” sessions, behind-the-scenes videos, and unique insights from the leagues during their seasons and major events.
The platform boasts over 1,000 active sports communities, which have seen a notable surge in engagement, with a 26% increase in screenviews on sports forums over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans predominantly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
To bolster its revenue as it prepares for a public offering, Reddit recently secured a $60 million annual AI licensing agreement with Google. Following the announcement of these new sports partnerships, Reddit experienced a nearly 7% increase in share prices.
Here are some key statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screenviews on sports-related Reddit forums in the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter