Reddit is making a significant move into the sports marketing arena with several new partnerships announced on Monday. The platform has teamed up with prominent sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these collaborations, Reddit users will gain access to a variety of content such as video highlights from games, player Q&A sessions, behind-the-scenes footage, and exclusive updates from the leagues during their seasons and special events.
The platform boasts over 1,000 active communities focused on sports, with a notable increase in engagement. In the past year, screenviews in sports-related forums on Reddit have surged by 26%.
The sports marketing industry is projected to grow over 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its pursuit of revenue growth leading up to its public offering, Reddit previously secured a $60 million annual licensing deal with Google for artificial intelligence services. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7%.
Here are some key statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Total screenviews in these forums over the last year
– 249 million: Monthly engagements (including posts, votes, and comments) in global sports subreddits
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: First-quarter revenue reported by Reddit.