Reddit is making a significant move into the sports marketing industry.
On Monday, the social media platform unveiled 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.
As part of these collaborations, Reddit users will gain access to game and tournament video highlights, player AMAs (ask me anything sessions), behind-the-scenes footage, and other exclusive content shared by the leagues throughout their seasons and key events.
Reddit boasts over 1,000 active communities focused on sports topics, and engagement in these forums has surged. The platform reports a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated worth of over $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to boost revenue ahead of its anticipated public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of these sports partnerships, Reddit’s share price rose nearly 7% on Monday.
Key Statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews by Reddit users of sports-related content in the past year
– 249 million: Monthly interactions (posts, votes, comments) on sports subreddits globally
– $55 billion: Estimated value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter