Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform announced several new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to a variety of exclusive content, including video highlights of games and tournaments, AMAs (ask me anything sessions) with athletes, behind-the-scenes footage, and other special features from the leagues throughout their seasons and major events.
Reddit has highlighted that it boasts over 1,000 active communities centered around sports, with a notable 26% increase in screenviews for these forums over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports-related content.
In its push for revenue growth in anticipation of a public offering, Reddit recently secured a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares surged nearly 7%.
Key Statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) on sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter