Reddit is making a significant move into the sports marketing industry. On Monday, the platform unveiled new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Through these collaborations, Reddit users will have access to a range of exclusive content, such as video highlights from games, player Q&A sessions, behind-the-scenes videos, and other special materials released by the leagues during their seasons and major events.
The social media platform noted that it has over 1,000 active sports communities, with a marked increase in user engagement. Screenviews for sports-related forums have risen by 26% in the past year.
According to forecasts, the sports marketing sector is expected to grow by more than 20%, reaching a worth of over $55 billion by 2030, with fans increasingly looking to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for a potential public offering, the company has been exploring new revenue streams. Earlier this year, it entered into a $60 million annual AI licensing deal with Google. Following the announcement of its sports partnerships, Reddit witnessed nearly a 7% increase in its share price.
Here’s a look at some key numbers:
– 1,000: The number of sports-related forums on Reddit
– 20.4 billion: Screenviews in sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter