Reddit is making a significant move into the sports marketing industry with the announcement of multiple partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of this initiative, Reddit users will gain access to a variety of exclusive content, including video highlights from games, player “Ask Me Anything” sessions, behind-the-scenes footage, and other special material provided by the leagues during their respective seasons and major events.
The platform has reported a surge in activity within its sports communities, boasting over 1,000 active forums dedicated to sports discussions. In the past year, screenviews for these sports-related forums have risen by 26%.
The sports marketing sector is projected to grow by more than 20%, surpassing a value of $55 billion by the year 2030, as fans increasingly engage with sports content through platforms like YouTube, Facebook, and X.
In a bid to enhance its revenues ahead of a public offering, Reddit has been actively exploring new monetization strategies. Earlier this year, it entered into a $60 million-per-year AI licensing agreement with Google. Following the news of these new sports partnerships, Reddit shares rose nearly 7% on Monday.
Here are some notable figures related to Reddit’s sports engagement:
– 1,000: The number of sports-focused Reddit forums
– 20.4 billion: Screenviews of these forums over the past year
– 249 million: Monthly user engagements (including posts, votes, and comments) in sports subreddits worldwide
– $55 billion: Estimated worth of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter.