Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform revealed a series of new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
This collaboration will allow Reddit users to access game and tournament highlights, player Q&A sessions, behind-the-scenes videos, and other exclusive content from these leagues throughout their seasons and major events.
According to Reddit, the platform boasts over 1,000 active communities focused on sports, with user engagement in these forums surging. In the last year, screenviews of sports-related content have risen by 26%.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring new revenue streams as it prepares for an initial public offering. Earlier this year, the platform secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares saw a nearly 7% increase on Monday.
Key statistics include:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of 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 sector by 2030
– $243 million: Reddit’s revenue for the first quarter