Reddit is making significant strides in the sports marketing arena, announcing on Monday a series of 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 these partnerships, Reddit users will gain access to a variety of engaging content such as video highlights from key games and tournaments, player Q&A sessions (known as AMAs), behind-the-scenes videos, and exclusive materials shared by the leagues throughout their seasons and major events.
The platform currently hosts over 1,000 active communities centered around sports, and engagement in these forums has surged, with a reported 26% increase in screenviews over the past year.
The sports marketing industry is anticipated to grow by more than 20%, reaching over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to bolster revenue ahead of a potential public offering, Reddit recently entered into a $60 million annual AI licensing agreement with Google. Following the announcement of its sports partnerships, Reddit’s shares saw a nearly 7% increase.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews in the past year from Reddit users
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion estimated worth of the sports marketing sector by 2030
– $243 million in Reddit’s revenue for the first quarter.