Reddit is making significant moves into the sports marketing arena. On Monday, the platform unveiled several new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of this initiative, Reddit users will have access to various exclusive content, such as video highlights from games and tournaments, player Ask Me Anything (AMA) sessions, behind-the-scenes footage, and more, all provided by the leagues during their respective seasons and major events.
The social media platform reports over 1,000 active communities dedicated to sports, with user engagement in these forums experiencing a substantial 26% increase in screenviews over the past year.
The sports marketing industry is poised for growth, projected to rise by more than 20% to exceed $55 billion by 2030, with fans largely turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue as it prepares for a public offering, Reddit recently secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of these sports partnerships, Reddit shares surged nearly 7% on Monday.
Key statistics include:
– 1,000 active sports-related forums on Reddit
– 20.4 billion screenviews in these forums over the past year
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion projected market value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue