Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Through these partnerships, Reddit users will gain access to game and tournament highlights, player AMAs (Ask Me Anything sessions), behind-the-scenes content, and other exclusive materials released by the leagues during their seasons and significant events.
The platform boasts over 1,000 active sports communities, with a marked increase in user interest. In the past year, screenviews in sports-related forums surged by 26%.
The sports marketing industry is projected to expand over 20%, potentially surpassing $55 billion by 2030, as more fans turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring new revenue streams as it prepares for a public offering. Earlier this year, it entered a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7%.
Here are some key figures:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews in these sports forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter.