Reddit is making a significant move into the thriving sports marketing industry. The social media platform announced new partnerships with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR on Monday.
As part of these partnerships, Reddit users will gain access to various exclusive content such as video highlights from games and tournaments, player Q&A sessions known as AMAs (Ask Me Anything), behind-the-scenes videos, and other special updates from the leagues throughout their respective seasons and significant events.
Reddit highlighted that it boasts over 1,000 active sports communities, and engagement within these forums has surged. The platform reported a 26% increase in screenviews on sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In its efforts to enhance revenue as it prepares for a potential public offering, Reddit secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares rose by nearly 7% on Monday, and the company reported first-quarter revenues that were nearly 50% higher than the previous year.
Key Statistics:
1,000: Active sports-related forums on Reddit
20.4 billion: Screenviews of sports-related forums in the past year
249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
$55 billion: Anticipated value of the sports marketing sector by 2030
$243 million: Reddit’s first-quarter revenue