Reddit is making a significant move into the sports marketing industry with new partnerships announced on Monday. The social media platform is aligning 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 these partnerships, Reddit users will gain access to video highlights from games and tournaments, player AMA sessions (ask me anything), behind-the-scenes content, and other exclusive materials from the leagues throughout their seasons and major events.
Reddit reported having over 1,000 active communities within its sports category, and there has been noticeable growth in user interest on these forums. Screenviews in sports-related forums surged by 26% over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
To bolster its financial outlook ahead of a potential public offering, Reddit secured a $60 million-per-year licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit experienced a nearly 7% increase in its share prices on Monday.
Key Statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screenviews on sports forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue in the first quarter of the year