Reddit is making a significant move into the lucrative sports marketing arena. The social media platform announced new collaborations with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These partnerships will provide Reddit users with access to game highlights, player Q&A sessions known as AMAs, behind-the-scenes videos, and exclusive content from the leagues during their seasons and key events.
Currently, Reddit boasts over 1,000 active sports-related communities, with a notable increase in engagement as screenviews for these forums rose by 26% in the past year.
The sports marketing industry is projected to grow by over 20%, reaching a value of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In preparation for its public offering, Reddit has been exploring various revenue streams, including a $60 million annual AI licensing deal with Google earlier this year. Following the announcement of its new sports partnerships, Reddit’s shares surged nearly 7%.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter.