Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday involving major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to a variety of engaging content, including video highlights from games, player “Ask Me Anything” sessions, behind-the-scenes footage, and exclusive materials shared by the leagues during their seasons and special events.
The platform boasts over 1,000 active sports communities, with a notable rise in user engagement, as screenviews on sports-related forums increased by 26% over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, with fans predominantly utilizing platforms like YouTube, Facebook, and X (formerly Twitter) to access sports-related content.
In its pursuit to enhance revenue streams ahead of a potential public offering, Reddit previously established a $60 million-per-year AI licensing agreement with Google. Subsequently, after a successful IPO, the company reported first-quarter revenues nearly 50% higher than the previous year. Following the announcement of the sports partnerships, Reddit’s shares surged nearly 7%.
Key statistics include:
– 1,000 active sports-related forums on Reddit
– 20.4 billion screenviews in these forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– An anticipated value of the sports marketing sector at $55 billion by 2030
– $243 million earned in revenue by Reddit in the first quarter.