Reddit is making a significant move into the sports marketing industry, having announced new partnerships with several prominent sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Beginning this week, Reddit users will have access to a variety of engaging content such as video highlights from games and tournaments, Ask Me Anything (AMA) sessions with players, behind-the-scenes footage, and exclusive content shared by the leagues throughout their respective seasons and major events.
The platform reports that it boasts over 1,000 active sports communities, with a noticeable increase in interest. In the past year, screenviews of sports-related forums on Reddit have surged by 26%.
The sports marketing sector is projected to grow over 20%, reaching an estimated value of more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to enhance its revenue streams ahead of a potential public offering, Reddit had previously secured a $60 million annual licensing deal for artificial intelligence with Google in February. Following the announcement of its new sports partnerships, Reddit shares experienced a nearly 7% increase.
Key figures from Reddit’s sports engagement include:
– 1,000: The number of sports-related forums on the platform
– 20.4 billion: Total screenviews on sports forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter of the year