Reddit is entering the competitive sports marketing arena with new partnerships announced on Monday with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users can look forward to accessing game and tournament video highlights, player AMA sessions, exclusive behind-the-scenes content, and other special features shared by the leagues during their seasons and at significant events.
The platform boasts over 1,000 active communities dedicated to sports, experiencing a notable surge in interest. Screenviews on sports-related forums have increased by 26% in the past year, according to the site.
The sports marketing industry is forecasted to grow by more than 20% to reach a valuation exceeding $55 billion by 2030, with fans predominantly utilizing platforms such as YouTube, Facebook, and X (formerly Twitter) for sports content.
In its push for new revenue streams ahead of a public offering, Reddit entered into a $60 million annual AI licensing agreement with Google in February. Following a successful IPO, the company reported first-quarter revenues nearly 50% higher than the previous year, with shares rising nearly 7% on Monday after announcing these new sports partnerships.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of sports-related forums over the last year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– Estimated value of the sports marketing sector at $55 billion by 2030
– Reddit’s first-quarter revenue at $243 million