Reddit is making significant strides into the sports marketing arena.
On Monday, the social media platform unveiled a series of new partnerships with major sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to a variety of engaging content such as video highlights from sporting events, player Q&A sessions (AMAs), behind-the-scenes footage, and other exclusive material from the leagues during their seasons and significant events.
Reddit has reported that it boasts over 1,000 active communities dedicated to sports, and user engagement in these forums has surged, with a 26% increase in screenviews recorded over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans are currently leaning toward platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its push for growth, Reddit has been exploring various avenues to enhance its revenue, including a $60 million annual AI licensing agreement with Google announced in February. Following these new sports partnerships, Reddit’s shares surged nearly 7% on Monday.
Key figures include:
– 1,000: Number of sports-focused Reddit forums
– 20.4 billion: Screenviews related to sports forums on Reddit over the past year
– 249 million: Monthly interactions (posts, votes, comments) in global sports subreddits
– $55 billion: Projected value of the sports marketing industry in 2030
– $243 million: Reddit’s revenue in the first quarter.