Reddit is making a significant move into the sports marketing industry by announcing new partnerships with several major leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to a variety of exclusive content, such as video highlights from games and tournaments, AMAs (ask me anything sessions) with players, behind-the-scenes videos, and other special content from the leagues throughout their seasons and significant events.
The platform reported that it has over 1,000 active sports communities, with a notable surge in interest, as screenviews on sports-related forums have risen by 26% in the past year.
The sports marketing sector is projected to experience significant growth, potentially exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to enhance revenue ahead of a public offering, Reddit previously entered into a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7%.
By the numbers:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the last year
– 249 million: Monthly engagements in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter