Reddit is making a significant entry into the sports marketing industry.
On Monday, the platform revealed a series of new partnerships with prominent sports organizations, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR (National Association for Stock Car Auto Racing).
As part of these collaborations, Reddit users will gain access to video highlights from various games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and exclusive content shared by the leagues during their seasons and major events.
Reddit has more than 1,000 active communities focused on sports, with a notable increase in engagement within these forums. The platform reported a 26% rise in screen views on sports-related discussions over the past year.
The sports marketing sector is projected to grow by over 20% in value, reaching more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for their sports content.
In its efforts to bolster revenue ahead of a potential public offering, Reddit secured a $60 million-per-year AI licensing agreement with Google in February. Following its successful IPO, the company reported a nearly 50% increase in first-quarter revenues compared to the previous year. Reddit’s shares rose almost 7% on Monday following the announcement of its new sports partnerships.
Here are some key statistics:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Total screen views of sports forums by Redditors in 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