Reddit is diving into the vibrant sports marketing industry with new partnerships announced on Monday involving major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Users on Reddit will have access to an array of content, such as video highlights from games and tournaments, player AMA (Ask Me Anything) sessions, behind-the-scenes footage, and special material shared by the leagues during their seasons and significant events.
The platform highlighted that it hosts over 1,000 active communities dedicated to sports, with a notable increase in user engagement in these forums. Screenviews for sports-related content have surged by 26% in the past year.
The sports marketing sector is projected to grow by over 20%, reaching a market value exceeding $55 billion by 2030, as fans increasingly turn 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 previously entered a $60 million annual AI licensing agreement with Google. Following the sports partnerships announcement, Reddit’s shares rose almost 7% on Monday.
Key statistics include:
– 1,000 active sports forums on Reddit
– 20.4 billion screenviews of sports-related content over the last year
– 249 million monthly engagements in sports subreddits globally
– Estimated value of the sports marketing industry at $55 billion by 2030
– Reddit’s revenue in the first quarter at $243 million.