Reddit is making a significant move into the sports marketing industry. The platform revealed on Monday that it has formed new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Users on Reddit will now have access to an array of content, including game highlights, player Q&A sessions, behind-the-scenes footage, and other exclusive materials shared by the leagues throughout their seasons.
The social media platform noted it boasts over 1,000 active sports communities, with considerable growth in engagement. In the past year, views on sports-related forums surged by 26%.
The sports marketing industry is projected to grow over 20%, 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 boost revenue ahead of a potential public offering, Reddit recently secured a $60 million annual AI licensing agreement with Google. Following the announcement of the sports partnerships, Reddit shares increased nearly 7%.
Key statistics include:
– 1,000 active sports-related Reddit communities
– 20.4 billion views 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 in Reddit’s first-quarter revenue