Reddit is making a significant move into the sports marketing industry, announcing multiple new partnerships with several prominent sports leagues on Monday. The leagues involved include the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to various exclusive content such as video highlights from games and tournaments, player Q&A sessions, behind-the-scenes videos, and additional special content released by these leagues during their seasons and major events.
The platform has reported over 1,000 active communities categorized under sports, with a notable surge in activity. In the past year, screenviews for sports-related forums on Reddit have increased by 26%.
The sports marketing sector is predicted to grow by over 20%, reaching an estimated value of more than $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to boost revenue ahead of a potential public offering, Reddit secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, the company saw its shares rise by nearly 7% on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews for these forums over the past year
– 249 million monthly engagements in sports subreddits worldwide
– An estimated $55 billion value for the sports marketing segment by 2030
– $243 million in revenue for Reddit in the first quarter.