Reddit is making significant strides into the profitable sports marketing industry. On Monday, the platform revealed 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 now have access to game and tournament video highlights, player AMAs (Ask Me Anything sessions), exclusive behind-the-scenes footage, and other special content shared by the leagues throughout their seasons and significant events.
The platform boasts over 1,000 active communities centered around sports, with a notable surge in interest over the past year. Reddit reported a 26% increase in screenviews for its sports-related forums during this time.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to enhance revenue in preparation for a public offering, Reddit secured a $60 million-per-year AI licensing agreement with Google earlier this year. Following a successful IPO, the company announced that its first-quarter revenues rose nearly 50% compared to the previous year. Reddit’s shares rose nearly 7% upon the announcement of its new sports partnerships.
Key statistics include:
– 1,000: Total number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (including posts, votes, and comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.