Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday. The social media platform has teamed up with major sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Through these partnerships, Reddit users will gain access to a variety of exclusive content such as video highlights from games and tournaments, player AMA sessions (ask me anything), behind-the-scenes videos, and additional special content shared by the leagues during their seasons and key events.
Reddit boasts over 1,000 active communities focused on sports, and interest in these forums has surged. The platform reported that screenviews for sports-related topics rose 26% over the past year.
The sports marketing industry is projected to grow significantly, with expectations of reaching over $55 billion by 2030. Fans are increasingly accessing sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
As Reddit prepares for its public offering, it has been exploring various strategies to enhance its revenue. Earlier this year, the company secured a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s stock saw an approximate 7% increase.
Key statistics include:
– Over 1,000 sports-related forums on Reddit
– 20.4 billion screenviews in sports forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– An estimated $55 billion value for the sports marketing sector by 2030
– Reddit’s first-quarter revenue reaching $243 million