Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform revealed new partnerships with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of this initiative, Reddit users will have access to video highlights from games and tournaments, as well as player AMAs (ask me anything sessions), behind-the-scenes content, and other exclusive material shared by the leagues during their seasons and major events.
Reddit reports that it hosts over 1,000 active communities focused on sports, with engagement in these forums seeing a substantial rise. The platform noted a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing industry is expected to grow significantly, with projections indicating a rise of over 20% to more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for a public offering, it has been exploring new revenue streams. Earlier this year, the company entered a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares experienced a nearly 7% increase on Monday.
In summary, here are some key statistics:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews in the past year for these forums
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion projected value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue