Reddit is making a significant move into the sports marketing arena, announcing several new partnerships with major sports leagues. On Monday, the social media platform revealed collaborations with the NFL, NBA, MLB, PGA Tour, and NASCAR.
Users of Reddit will benefit from access to a variety of exclusive content, including video highlights from games and tournaments, AMAs (ask me anything sessions) with players, behind-the-scenes videos, and other special material shared by the leagues during their seasons and key events.
The platform has over 1,000 active communities focused on sports, which have seen a notable rise in engagement. Reddit reported a 26% increase in screenviews of sports-related forums over the past year.
The sports marketing industry is projected to grow significantly, expected to exceed $55 billion by 2030, as fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for its public offering, it has been actively exploring ways to enhance its revenue streams. Earlier this year, it secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Here are some notable figures related to Reddit’s sports engagement:
– 1,000: Number of sports-focused forums on Reddit
– 20.4 billion: Total screenviews of these forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter of the year