Reddit is making a significant move into the sports marketing arena with the announcement of multiple partnerships with prominent sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of this initiative, Reddit users will gain access to a variety of exclusive content such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and other special materials shared by these leagues throughout their seasons and major events.
The platform highlighted the growth of its sports communities, noting more than 1,000 active forums in this category, with interest increasing markedly. The company reported that screenviews in sports-related forums grew by 26% over the past year.
The sports marketing sector is projected to see substantial growth of over 20%, reaching a value exceeding $55 billion by 2030. Fans are increasingly engaging with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In a bid to enhance its revenue streams, Reddit has been exploring new opportunities as it prepares for a public offering. Earlier this year, it inked a $60 million-per-year AI licensing agreement with Google. Following the announcement of these new sports partnerships, Reddit shares experienced a nearly 7% increase on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums.
– 20.4 billion: Screenviews of sports-related forums in the past year.
– 249 million: Monthly user 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.