Reddit is diving into the profitable sports marketing arena.
On Monday, the social media platform announced new collaborations with prominent sports leagues, including 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 exclusive content posted by the leagues throughout their seasons and major events.
Reddit reported that it has over 1,000 active communities in the sports category, with a significant increase in interest. Screenviews on sports-related forums rose 26% over the past year.
The sports marketing sector is expected to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans are primarily turning to YouTube, Facebook, and X (formerly Twitter) for sports-related content.
Reddit has been exploring new revenue streams as it prepares to go public. In February, it secured a $60 million-per-year AI licensing deal with Google. Following a successful IPO, Reddit reported first-quarter revenues nearly 50% higher than the previous year. Reddit’s shares surged nearly 7% on Monday after the announcement of the new sports partnerships.
By the numbers:
1,000: Number of sports-related Reddit forums
20.4 billion: Screenviews on sports-related Reddit forums over the past year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s first-quarter revenue