Reddit is making significant strides into the sports marketing arena.
On Monday, the social media platform announced new collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and National Association for Stock Car Auto Racing (NASCAR).
As part of these partnerships, Reddit users will have access to various engaging features such as game and tournament video highlights, player AMA (ask me anything) sessions, exclusive behind-the-scenes videos, and other unique content shared by the leagues during their respective seasons and major events.
The company highlighted that it has over 1,000 active sports-related communities, which have seen a notable increase in engagement. Screenviews on sports-focused forums on the platform rose by 26% in the past year.
The sports marketing industry is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030. Currently, fans primarily engage with sports content on platforms like YouTube, Facebook, and X (formerly known as Twitter).
In its pursuit of revenue growth ahead of a potential public offering, Reddit recently secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
By the numbers:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue