Reddit is making a significant move into the sports marketing industry. On Monday, the social media platform announced new partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these partnerships, Reddit users will have access to a variety of content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and exclusive content from the leagues throughout their respective seasons and significant events.
The platform boasts over 1,000 active communities focused on sports, with a notable increase in engagement on these forums. Screenviews for sports-related discussions rose by 26% in the past year.
The sports marketing industry is expected to grow over 20%, potentially exceeding a value of $55 billion by 2030, as fans increasingly seek sports-related content on platforms like YouTube, Facebook, and X (formerly Twitter).
Reddit is exploring new revenue opportunities as it prepares for an initial public offering. In February, it secured a $60 million annual AI licensing deal with Google. Following the announcement of its sports partnerships, Reddit’s shares rose nearly 7%.
Key Statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter