Reddit is making a significant move into the sports marketing arena.
On Monday, the platform revealed new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and National Association for Stock Car Auto Racing (NASCAR).
These collaborations will allow Reddit users to access a variety of exclusive content. This includes video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and other special material shared by the leagues during their seasons and major events.
Reddit highlighted that it boasts more than 1,000 active communities within the sports category, and interest has surged significantly. The site reported a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing industry is projected to grow by over 20% to exceed $55 billion by the year 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of an expected public offering, Reddit previously entered into a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7% on Monday.
In summary, key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews in sports-related forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion projected market value of the sports marketing sector by 2030
– $243 million reported in Reddit’s first-quarter revenue.