Reddit is making a significant move into the sports marketing industry, announcing new partnerships with several major sports leagues on Monday. These leagues include the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and National Association for Stock Car Auto Racing (NASCAR).
As part of these partnerships, Reddit users will gain access to an array of exclusive content, including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and more special content shared by the leagues during their seasons and major events.
Reddit has revealed that it hosts over 1,000 active communities within the sports category, and interest in these forums has surged. Over the past year, screenviews of sports-related forums on Reddit have increased by 26%.
The sports marketing industry is projected to experience significant growth, expected to rise by more than 20% and reach a valuation of over $55 billion by 2030. Fans are increasingly engaging with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to bolster revenue as it prepares for a public offering, Reddit previously signed a $60 million annual AI licensing deal with Google in February. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the past 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.