Reddit is making a significant move into the sports marketing industry by announcing several new partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to an array of exclusive content, including video highlights from games and tournaments, AMAs (ask me anything sessions) with players, behind-the-scenes videos, and much more throughout the sports seasons.
The platform boasts over 1,000 active communities centered around sports, with a marked increase in engagement. Over the past year, screenviews for sports-related forums on Reddit have surged by 26%.
Experts predict that the sports marketing sector will grow by more than 20% and reach a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to enhance its revenue streams ahead of a potential public offering, Reddit previously negotiated a $60 million-per-year AI licensing deal with Google. Following the announcement of their new sports partnerships, Reddit shares saw an almost 7% increase on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related content 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