Reddit is making a significant move into the sports marketing industry, having announced multiple new partnerships with prominent sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will gain access to 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 unique content shared by the leagues throughout their seasons and major events.
The platform boasts over 1,000 active sports communities, and interest in these forums has surged. Reddit reports a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a market value exceeding $55 billion by 2030, with fans primarily utilizing platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In recent months, Reddit has been exploring new revenue streams, especially as it prepares for a public offering. Earlier this year, it secured a $60 million annual AI licensing agreement with Google. Following the announcement of these new sports partnerships, Reddit’s shares experienced a nearly 7% increase.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.