Reddit is making significant strides into the sports marketing arena.
On Monday, the social media platform unveiled a series of partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to video highlights of games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes content, and various exclusive materials shared by the leagues throughout their seasons and significant events.
Reddit has more than 1,000 active communities dedicated to sports, with a noticeable rise in engagement in these areas. Reports indicate that screen views on sports-related forums have surged by 26% over the past year.
The sports marketing industry is projected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030, with fans primarily turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to enhance revenue streams in anticipation of going public, Reddit had previously announced a $60 million annual AI licensing agreement with Google in February. Following a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year. Following the announcement of new sports partnerships, Reddit’s stock saw an increase of nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screen views of sports forums by Reddit users over the past year
– 249 million: Monthly interactions (posts, votes, comments) in global sports subreddits
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter.