Reddit is making a significant move into the sports marketing industry. On Monday, the platform unveiled new partnerships with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These partnerships aim to provide Reddit users with exclusive content such as game and tournament video highlights, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other unique materials throughout the sports seasons and major events.
According to Reddit, the platform hosts over 1,000 active communities focused on sports, and there has been a substantial increase in user engagement within these forums. The site reported a 26% rise in screenviews for sports-related content over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly consuming sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to boost revenue ahead of a potential public offering, Reddit secured a $60 million-per-year AI licensing deal with Google in February. Following the announcement of its sports partnerships, Reddit shares rose nearly 7%.
Key statistics from Reddit include:
– 1,000 sports-related forums
– 20.4 billion screenviews in the past year in sports forums
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion estimated market value for the sports marketing sector by 2030
– $243 million revenue for Reddit in the first quarter.