Reddit is making significant strides into the sports marketing arena, having announced multiple partnerships with prominent sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of content, including video highlights from games and tournaments, player Q&A sessions known as AMAs (Ask Me Anything), behind-the-scenes videos, and other exclusive material shared by the leagues throughout their seasons and major events.
The platform revealed that it boasts over 1,000 active sports communities, with engagement in those forums witnessing a notable surge. Screenviews on sports-related discussions have increased by 26% over the past year.
The sports marketing sector is projected to grow by over 20%, reaching a valuation of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In recent months, Reddit has been exploring new revenue opportunities ahead of its anticipated public offering. Earlier this year, it secured a $60 million-per-year AI licensing deal with Google. Following the announcement of these new partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screenviews of sports forums over the past year
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion projected value of the sports marketing industry by 2030
– $243 million in Reddit’s revenue for the first quarter.