Reddit is making significant strides in the sports marketing arena.
On Monday, the social media platform unveiled several partnerships with prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of this initiative, Reddit users will gain access to a range of engaging content such as game and tournament video highlights, interactive Q&A sessions with players, behind-the-scenes footage, and other exclusive material shared by the leagues during their seasons and major events.
Reddit noted that it currently has over 1,000 active communities focused on sports, with heightened interest in these forums. The platform reported a 26% increase in screen views on sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to enhance revenue ahead of its potential initial public offering (IPO), Reddit has been pursuing new ventures. Earlier this year, it secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of these sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views of sports-related content on Reddit over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.