Reddit is making a significant move into the sports marketing industry. On Monday, the platform announced new collaborations with leading sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will have the opportunity to access video highlights from various games and tournaments, participate in player AMAs (Ask Me Anything sessions), view behind-the-scenes videos, and enjoy other exclusive content shared by the leagues throughout their seasons and major events.
Reddit reported that it has over 1,000 active sports communities, with a notable increase in engagement. The social media site indicated that screenviews of sports-related forums rose by 26% in the past year.
The sports marketing sector 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.
In recent efforts to boost revenue, Reddit struck a $60 million-per-year AI licensing agreement with Google in February. Following a successful initial public offering, the company reported a first-quarter revenue increase of nearly 50% compared to the previous year. Reddit shares experienced a nearly 7% increase on Monday after the announcement of the new sports partnerships.
Key Statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) within sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s reported first-quarter revenue