Reddit is diving into the sports marketing arena by announcing new partnerships with major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
With these partnerships, Reddit users will gain access to game highlights, player AMAs (ask me anything sessions), behind-the-scenes videos, and other exclusive content shared by these leagues during their seasons and major events.
Reddit revealed it has more than 1,000 active sports communities, with notable growth in engagement. Screen views on sports-related forums have seen a 26% increase over the past year.
The sports marketing sector is expected to grow by more than 20%, reaching a value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring new revenue streams in preparation for going public. In February, Reddit secured a $60 million-per-year AI licensing deal with Google. Following a successful IPO, Reddit’s first-quarter revenue was nearly 50% higher than the previous year. Reddit’s stock rose nearly 7% on Monday after announcing the new sports partnerships.
Key statistics:
– Number of sports-related Reddit forums: 1,000
– Screen views of sports-related forums over the past year: 20.4 billion
– Monthly engagements in sports subreddits globally: 249 million
– Estimated value of the sports marketing sector by 2030: $55 billion
– Reddit’s first-quarter revenue: $243 million