Reddit is making a significant move into the sports marketing industry. The platform announced on Monday that it has formed new partnerships with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
With these partnerships, Reddit users will have access to a variety of exclusive content, including video highlights from games, player Q&A sessions, behind-the-scenes footage, and other unique offerings throughout the leagues’ seasons and major events.
The company noted that it boasts over 1,000 active sports communities, which have seen a considerable uptick in engagement. According to Reddit, screen views on sports-related forums increased by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, potentially reaching a value of over $55 billion by 2030, as fans increasingly engage with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to increase revenue ahead of a public offering, Reddit secured a $60 million annual AI licensing agreement with Google earlier this year. Following the announcement of these new sports partnerships, Reddit shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screen views of sports-related forums over the past year
– 249 million: Monthly engagements within sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter.