Reddit is diving into the lucrative sports marketing sector with new partnerships announced on Monday involving major sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
This collaboration will provide Reddit users with access to video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other exclusive content from these leagues throughout their seasons and major events.
Reddit, which currently boasts over 1,000 active communities in the sports category, has seen a significant increase in interest, with screenviews on sports-related forums rising by 26% over the last 12 months.
The sports marketing space is projected to grow by more than 20%, potentially reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to bolster finances ahead of going public, Reddit secured a $60 million-per-year AI licensing deal with Google in February. Following a successful IPO, the company reported first-quarter revenues nearly 50% higher than the previous year. Reddit shares surged almost 7% on Monday following the announcement of the new sports partnerships.
Key Statistics:
– Over 1,000 sports-related Reddit forums
– 20.4 billion screenviews on sports-related forums in the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion estimated value of the sports marketing sector by 2030
– $243 million Reddit’s first-quarter revenue