Reddit is making a significant foray into the sports marketing industry, as announced on Monday. The social media platform has formed partnerships with several prominent sports leagues including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Through these collaborations, Reddit users will have access to a variety of engaging content such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other exclusive material shared by the leagues during their seasons and major events.
With over 1,000 active communities dedicated to sports, Reddit has experienced a notable surge in interest within these forums. The platform reported a 26% increase in screen views on sports-related content over the past year.
Industry forecasts indicate that the sports marketing sector is expected to grow by more than 20%, reaching a value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest to boost revenue ahead of a public offering, Reddit has also secured a $60 million-per-year AI licensing deal with Google earlier this year. Following the recent announcement of its sports partnerships, Reddit’s shares surged nearly 7% on Monday.
Key statistics:
– 1,000: Number of sports-related Reddit communities
– 20.4 billion: Screen views in sports-related Reddit 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: Reddit’s revenue for the first quarter