Reddit is making significant moves into the sports marketing arena, having announced several new partnerships with prominent sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to a variety of content such as video highlights from games and tournaments, player AMA sessions, exclusive behind-the-scenes videos, and other special content released by the leagues during their seasons and major events.
Reddit boasts over 1,000 active sports-related communities, with a notable increase in user engagement. The platform reported a 26% rise in screen views for sports forums over the past year.
The sports marketing industry is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030, with fans typically accessing sports content through platforms like YouTube, Facebook, and X (formerly Twitter).
In its quest to boost revenue in light of its anticipated public offering, Reddit recently secured a $60 million-per-year AI licensing deal with Google. Following the announcement of its new sports partnerships, Reddit’s shares saw an increase of nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screen views by Reddit users on these forums over the past year
– 249 million: Monthly interactions (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue in the first quarter.