Reddit is making a significant move into the thriving sports marketing industry with new partnerships established on Monday with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these collaborations, Reddit users will gain access to a range of exclusive content, including video highlights from games and tournaments, player “Ask Me Anything” (AMA) sessions, behind-the-scenes footage, and other special features shared by the leagues during their respective seasons and major events.
The platform has reported that there are over 1,000 active communities centered around sports, with user engagement in these forums experiencing substantial growth. In the past year, views of sports-related content on Reddit increased by 26%.
The sports marketing sector is projected to grow by more than 20%, reaching over $55 billion in value by 2030, as fans increasingly consume sports-related content on platforms like YouTube, Facebook, and X (formerly Twitter).
Looking to enhance its revenue as it prepares for an initial public offering, Reddit recently entered into a $60 million-per-year AI licensing agreement with Google. Following a successful debut in the stock market, the company reported first-quarter revenues that were nearly 50% higher compared to the previous year. In response to the new sports partnerships, Reddit’s shares climbed nearly 7% on Monday.
Key Statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter