Reddit is diving into the lucrative sports marketing sector with new partnerships announced on Monday with major sports leagues such as 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).
Reddit users will gain access to video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and other special content posted by the leagues throughout their seasons and major events.
Reddit boasts more than 1,000 active communities in the sports category, and interest in these forums has increased significantly. According to the platform, screenviews on sports-related forums rose by 26% over the last 12 months.
The sports marketing space is anticipated to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans commonly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
Reddit has been exploring new ways to generate revenue as it prepares to go public. In February, it signed a $60 million-per-year AI licensing deal with Google. Following a successful IPO, the company reported first-quarter revenues nearly 50% higher than the previous year. Reddit shares rose nearly 7% on Monday after announcing the new sports partnerships.
By the numbers:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the last 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 first-quarter revenue