Reddit is making a significant move into the sports marketing arena by unveiling partnerships with several prominent sports leagues. On Monday, the social media platform announced collaborations with the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these partnerships, Reddit users will gain access to an array of engaging content including video highlights from games and tournaments, interactive “Ask Me Anything” sessions with players, behind-the-scenes videos, and various other exclusive materials released by the leagues during their seasons and major events.
Reddit has noted that it boasts over 1,000 active communities centered around sports, with a marked increase in interest in these forums. In fact, the site reported a 26% rise in screenviews for sports-related discussions over the last year.
The sports marketing sector is anticipated to grow by over 20%, reaching a worth of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
In its efforts to enhance revenue in the lead-up to a potential public offering, Reddit recently secured a $60 million-per-year AI licensing deal with Google earlier this year. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7%.
Here are some key statistics:
– 1,000: Number of sports-focused communities on Reddit
– 20.4 billion: Total screenviews of sports-related content on Reddit in the past year
– 249 million: Monthly interactions (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter.