Reddit is making a significant move into the sports marketing arena, announcing new partnerships with major sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of sports content such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and other exclusive material from the leagues during their respective seasons and major events.
The platform boasts over 1,000 active sports communities, and engagement in these forums has surged, with sports-related screenviews increasing by 26% in the past year.
The sports marketing industry is projected to grow over 20% to exceed $55 billion by 2030, with fans mainly accessing sports content through platforms like YouTube, Facebook, and X (formerly Twitter).
In an effort to diversify its revenue streams ahead of a potential public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of these new sports partnerships, Reddit shares rose nearly 7% on Monday.
Here are some key statistics:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter of this year