Reddit is making significant strides into the sports marketing arena. On Monday, the social media platform unveiled several new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to a range of exclusive content, which includes video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and additional content shared by the leagues during their seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, and engagement in these groups has surged. Screenviews in sports-related forums have risen by 26% over the past year, highlighting the growing interest in sports content on the platform.
The sports marketing industry is expected to witness substantial growth, projected to exceed $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In light of its upcoming public offering, Reddit has been exploring various avenues to enhance its revenue. Earlier this year, the platform entered into a $60 million-per-year AI licensing agreement with Google. Following a successful IPO, Reddit reported first-quarter revenues that were nearly 50% higher than the previous year. The announcement of the new sports partnerships contributed to a nearly 7% increase in Reddit shares on Monday.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of sports-related content over the past year
– 249 million monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.