Reddit is making a significant move into the growing sports marketing industry. On Monday, the platform announced collaborations with several leading sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and National Association for Stock Car Auto Racing (NASCAR).
Through these partnerships, Reddit users will have access to a variety of content, including video highlights from games and tournaments, player Q&A sessions, behind-the-scenes footage, and other exclusive materials provided by the leagues during their respective seasons and major events.
Reddit has noted that there are over 1,000 active sports communities on its platform, with a significant surge in interest. The site reported 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 a value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to diversify its revenue streams ahead of a public offering, Reddit recently secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares saw a nearly 7% rise on Monday.
Key figures include:
– 1,000: Count of sports-related Reddit forums
– 20.4 billion: Number of screenviews in sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter