Reddit is making a significant move into the sports marketing arena with the announcement of new collaborations with major sports organizations including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
This partnership will provide Reddit users with exclusive access to video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes content, and other special material shared by the leagues during their seasons and major events.
The platform highlighted that it hosts over 1,000 active sports communities, with a notable increase in user interest, as screenviews in these forums rose by 26% in the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a valuation exceeding $55 billion by 2030. Fans are primarily utilizing platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
To bolster its revenues ahead of a public offering, Reddit finalized a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares surged nearly 7%.
Here are some key statistics:
– 1,000: Active sports-related forums on Reddit
– 20.4 billion: Screenviews in sports-related forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Expected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter