Reddit is making a significant move into the sports marketing arena.
On Monday, the platform unveiled several new collaborations 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 partnerships will allow Reddit users to access a variety of content, including video highlights from games, player Q&A sessions, behind-the-scenes footage, and exclusive material shared by the leagues during their respective seasons and major events.
Reddit has reported that it features over 1,000 active sports communities, with engagement in these forums experiencing a notable increase. Specifically, screenviews on sports-related subreddits surged by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly 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 secured a $60 million annual AI licensing agreement with Google earlier this year. Following a successful initial public offering, Reddit reported a first-quarter revenue that was nearly 50% higher than the prior year, resulting in a nearly 7% increase in its shares on Monday after announcing these new sports partnerships.
In summary:
– 1,000: Active sports-related Reddit communities
– 20.4 billion: Screenviews in those communities over the past year
– 249 million: Monthly engagements in global sports subreddits
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s first-quarter revenue