Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with several major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Starting Monday, Reddit users will enjoy access to a variety of content such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and additional special material shared by the leagues during their seasons and key events.
Currently, Reddit boasts over 1,000 active communities within its sports section, which has seen a notable growth in user interest. The platform reported a 26% increase in screen views related to sports forums over the past year.
As the sports marketing sector is projected to grow over 20%, reaching a value of more than $55 billion by 2030, fans are increasingly accessing sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In an effort to bolster its revenue ahead of a planned public offering, Reddit previously entered a $60 million-per-year AI licensing agreement with Google in February. Following a successful IPO, the company reported first-quarter revenues nearly 50% greater than the previous year. On the day the sports partnerships were announced, Reddit shares rose nearly 7%.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views on sports-related Reddit forums over the last year
– 249 million: Monthly engagements in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.