Reddit is making a significant move into the sports marketing industry with the announcement of new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to a variety of engaging content such as game highlights, player “Ask Me Anything” sessions, behind-the-scenes videos, and other exclusive materials from the leagues throughout their seasons and major events.
The platform revealed that it hosts over 1,000 active communities dedicated to sports, which have seen substantial interest. Screenviews on sports-related forums increased by 26% in the past year, indicating a growing engagement among users.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $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 various strategies to boost its revenue, especially as it prepares to file for an IPO. Earlier this year, it secured a $60 million annual AI licensing agreement with Google. Following the announcement of the sports partnerships, Reddit shares rose nearly 7%.
Key statistics highlight the growth and engagement within Reddit’s sports communities:
– 1,000: Number of sports-related Reddit forums.
– 20.4 billion: Screenviews on sports-related Reddit forums over the past year.
– 249 million: Monthly engagements (including posts, votes, and comments) in sports subreddits worldwide.
– $55 billion: Estimated market value of the sports marketing sector by 2030.
– $243 million: Reddit’s revenue for the first quarter.