Reddit is making a significant move into the sports marketing arena by forming new partnerships with prominent sports leagues. Announced on Monday, these collaborations include affiliations with 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 gain access to game and tournament video highlights, player Q&A sessions (known as AMAs), behind-the-scenes footage, and unique content shared by the leagues during their seasons and major events.
The platform noted it has over 1,000 active sports-related communities, which have seen a surge in engagement, with a reported 26% increase in screenviews for these forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value surpassing $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
Reddit has been exploring various strategies to increase revenue in anticipation of going public. Earlier this year, it struck a lucrative $60 million-per-year AI licensing agreement with Google. Following a successful initial public offering (IPO), the company announced that its first-quarter revenues were nearly 50% higher compared to the previous year. The announcement of the new sports partnerships triggered a nearly 7% surge in Reddit’s stock on Monday.
Key Statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums in the past year
– 249 million: Monthly interactions (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Expected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter of the year