Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform unveiled a series of new partnerships with major sports organizations, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
With these collaborations, Reddit users will enjoy access to game highlights, player AMA sessions, behind-the-scenes footage, and other exclusive content from these leagues throughout their respective seasons and major events.
The platform boasts over 1,000 active sports communities, with a notable increase in engagement. In the past year, views on sports-related forums have surged by 26%.
The sports marketing industry is projected to grow by more than 20%, reaching over $55 billion by 2030, as fans increasingly turn to platforms such as YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to enhance its revenue streams ahead of a potential public offering, Reddit previously secured a $60 million-per-year AI licensing deal with Google in February. Following the announcement of the sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screenviews in these sports forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits globally
– An estimated $55 billion value for the sports marketing sector by 2030
– $243 million in revenue reported by Reddit for the first quarter.