Reddit is making significant strides into the sports marketing industry. On Monday, the platform announced new partnerships with prominent sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These collaborations will provide Reddit users with an array of exclusive content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other special materials from the leagues throughout their seasons and major events.
With over 1,000 active communities dedicated to sports, Reddit has seen a substantial increase in interest within these forums. Screenviews for sports-related discussions jumped 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, with fans increasingly looking 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 previously secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, Reddit saw its shares rise nearly 7% on Monday.
Key statistics to note include:
– 1,000: Number of sports-related forums on Reddit.
– 20.4 billion: Total screenviews in sports forums over the last year.
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally.
– $55 billion: Estimated market value of the sports marketing sector by 2030.
– $243 million: Reddit’s revenue for the first quarter.