Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with prominent sports leagues. On Monday, the social media platform revealed collaborations with the NFL, NBA, MLB, PGA Tour, and NASCAR.
Users on Reddit will have access to a variety of content, including game highlights, player Q&A sessions, behind-the-scenes videos, and other exclusive material shared by the leagues throughout their seasons and during major events.
The company noted that it hosts over 1,000 active sports communities, which have seen a notable increase in engagement. Screenviews for sports-related forums surged by 26% in the past year, highlighting the growing interest among users.
The sports marketing industry is projected to expand by over 20%, reaching an estimated value of more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest to bolster revenue ahead of a potential public offering, Reddit struck a $60 million annual AI licensing deal with Google earlier this year. Following the announcement of its new sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Key figures include:
– 1,000: Sports-related Reddit forums
– 20.4 billion: Screenviews of these forums over the last 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 in the first quarter.