Reddit is making significant strides into the sports marketing arena with the announcement of new partnerships involving major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
This initiative will enable Reddit users to access a variety of exclusive content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other special updates from the leagues throughout their seasons and major events.
According to Reddit, the platform boasts over 1,000 active sports communities, with engagement in these forums on the rise. Screenviews related to sports topics have surged by 26% over the past year, highlighting the growing interest among users.
The sports marketing industry is projected to expand by more than 20%, reaching a valuation of over $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 its public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google. Following the announcement of the new sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Key figures include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related content in the past year
– 249 million: Monthly user engagements in sports subreddits globally
– $55 billion: Projected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter