Reddit is making a significant move into the sports marketing arena, announcing several new partnerships with major sports leagues on Monday. These leagues include the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to a variety of content, including video highlights from games and tournaments, “ask me anything” (AMA) sessions with players, behind-the-scenes videos, and other special content shared by the leagues during their respective seasons and major events.
Reddit has noted that it boasts over 1,000 active sports communities, with interest in these forums seeing a significant increase. The platform reported a 26% rise in screenviews of sports-related content over the past year.
The sports marketing industry is projected to grow over 20%, reaching a valuation of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and what was formerly known as Twitter, now X, to consume sports content.
In its efforts to diversify revenue streams ahead of an anticipated initial public offering (IPO), Reddit entered a $60 million-per-year artificial intelligence licensing agreement with Google earlier this year. Following the announcement of its sports partnerships, Reddit’s shares surged almost 7%.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews related to sports on Reddit over the past year
– 249 million: Monthly engagements in global sports subreddits
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter of this year