Reddit is making a significant move into the sports marketing arena by announcing new partnerships with several prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Users on the platform will now have access to various exclusive content, including video highlights from games and tournaments, player Q&A sessions, behind-the-scenes videos, and other special content shared by the leagues throughout their seasons and major events.
With over 1,000 active communities dedicated to sports, Reddit has seen a notable increase in interest within these forums, reporting a 26% rise in screenviews related to sports discussions in the past year.
The sports marketing sector is projected to grow by over 20%, reaching an estimated value 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 streams ahead of a public offering, Reddit has also secured a $60 million annual AI licensing deal with Google. Following the announcement of its new sports partnerships, Reddit shares experienced a nearly 7% increase on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports-related forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion projected value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue