Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Through these partnerships, Reddit users will gain access to a variety of engaging content such as video highlights from games and tournaments, player Q&A sessions, behind-the-scenes footage, and exclusive content from the leagues throughout their seasons and major events.
The platform boasts over 1,000 active sports-related communities, with a substantial increase in user engagement. Screenviews in sports forums surged by 26% over the past year, highlighting growing interest among users.
Experts predict that the sports marketing industry will see substantial growth, exceeding 20% and reaching a value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for a public offering, it is actively seeking new revenue strategies. Earlier this year, the company struck a $60 million-per-year deal for AI licensing with Google. Following the announcement of its new sports partnerships, Reddit shares saw a nearly 7% increase.
Key statistics include the 1,000 sports-related Reddit forums, 20.4 billion screenviews in the past year, 249 million monthly engagements within sports subreddits globally, and first-quarter revenue of $243 million. The projected value of the sports marketing sector is estimated to reach $55 billion by 2030.