Reddit is making significant strides in the sports marketing sector by announcing new partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of exclusive content, such as video highlights from games, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other special material shared by the leagues during their seasons and major events.
With over 1,000 active communities focused on sports, Reddit has observed a notable surge in interest within these forums, reporting a 26% increase in screenviews for sports-related content over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030. Fans predominantly engage with sports content through platforms like YouTube, Facebook, and X (formerly Twitter).
To bolster revenue, Reddit has been exploring new avenues since preparing for its public offering, including a $60 million annual AI licensing agreement with Google in February. Following the announcement of the sports partnerships, Reddit shares saw an increase of nearly 7%.
Key statistics include:
– 1,000 sports-related Reddit forums.
– 20.4 billion screenviews of sports forums over the last year.
– 249 million monthly engagements in global sports subreddits.
– An estimated $55 billion valuation for the sports marketing sector by 2030.
– $243 million in revenue reported by Reddit for the first quarter.