Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to a variety of engaging content, such as video highlights from games and tournaments, player AMA sessions (ask me anything), behind-the-scenes videos, and other exclusive material shared by the leagues during their seasons and significant events.
The platform boasts over 1,000 active communities focused on sports, and engagement within these forums has seen a notable surge. Reports indicate a 26% increase in screenviews for sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching over $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In a bid to boost its 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 the sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit.
– 20.4 billion: Screenviews of sports-related forums in the past year.
– 249 million: Monthly engagements (including posts, votes, and comments) in sports subreddits globally.
– $55 billion: Projected value of the sports marketing industry by 2030.
– $243 million: Reddit’s recorded revenue for the first quarter.