Reddit is making a significant move into the sports marketing industry by announcing new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
The platform will provide its users with access to exclusive content, such as video highlights from key games and tournaments, player AMA sessions, behind-the-scenes footage, and other special materials from the leagues throughout their respective seasons and events.
Reddit boasts over 1,000 active sports communities, with a notable surge in interest; screenviews on these sports forums have risen by 26% in the past year. The growth in the sports marketing sector is predicted to exceed 20%, reaching a value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its pursuit of financial growth ahead of a public offering, Reddit recently signed a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7%.
Here are some key figures:
– 1,000 active sports forums on Reddit
– 20.4 billion screenviews of sports-related forums over the past year
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion projected value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue