Reddit is making a significant move into the sports marketing arena by announcing new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting immediately, Reddit users will gain access to a variety of engaging content, including video highlights from games and tournaments, player AMA (ask me anything) sessions, behind-the-scenes videos, and exclusive material from the leagues throughout their respective seasons and major events.
The platform boasts over 1,000 active communities centered around sports, with a notable increase in interest. Recent data indicates that screenviews for sports-related forums have surged by 26% in the past year.
The sports marketing industry is projected to grow significantly, reaching a valuation of over $55 billion by 2030. Fans are primarily turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest for revenue, Reddit has been exploring new avenues since it began preparations for an initial public offering (IPO). Earlier this year, it secured a $60 million annual AI licensing deal with Google. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews on sports-related Reddit forums in the past year
– 249 million: Monthly user engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimation of the sports marketing sector’s value by 2030
– $243 million: Reddit’s revenue for the first quarter.