Reddit is making a significant move into the sports marketing arena, having announced multiple partnerships with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of this initiative, Reddit users will gain access to a variety of exclusive content, including video highlights from games and tournaments, player amA sessions (ask me anything), behind-the-scenes videos, and other special features shared by the leagues throughout their seasons.
The platform currently boasts over 1,000 active communities focused on sports, and interest in these forums has surged, with a reported 26% increase in screenviews over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030. Fans are predominantly engaging with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its quest to boost revenue in preparation for an anticipated public offering, Reddit has recently secured a $60 million-per-year AI licensing deal with Google. Following the announcement of the new partnerships, Reddit’s stock price rose nearly 7% on Monday.
The statistics highlight the growing interest in sports content on Reddit:
– 1,000 sports-related forums
– 20.4 billion screenviews of sports-related content in the past year
– 249 million monthly interactions in sports subreddits worldwide
– $55 billion is the estimated value of the sports marketing sector by 2030
– $243 million is Reddit’s reported revenue for the first quarter.