Reddit is making a significant move into the sports marketing industry, announcing new partnerships with prominent sports leagues including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Through these partnerships, Reddit users will gain access to various exclusive content such as video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes footage, and other special material shared by the leagues during their seasons and major events.
The platform noted that it hosts over 1,000 active communities centered around sports, with considerable growth in user engagement. Screenviews for sports-related forums have surged by 26% in the past year.
The sports marketing market is projected to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for its public offering, it has been exploring new revenue streams. Earlier this year, it secured a $60 million annual AI licensing deal with Google. Following the announcement of these sports partnerships, Reddit shares saw a nearly 7% increase.
Key figures include:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of sports forums over the past year
– 249 million: Monthly engagements in global sports subreddits
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue in the first quarter.