Reddit is making a significant move into the vibrant sports marketing industry.
On Monday, the platform announced new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
These partnerships will allow Reddit users to access various types of content, including video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes footage, and other exclusive materials shared by the leagues throughout their seasons and key events.
Reddit highlighted that it hosts over 1,000 active communities focused on sports, with an impressive surge in interest. In the past year, screenviews in sports-related forums have spiked by 26%.
The sports marketing sector is projected to grow more than 20%, reaching over $55 billion by 2030, as fans increasingly engage with sports content on platforms like YouTube, Facebook, and the newly renamed X (formerly Twitter).
Since preparing for an initial public offering (IPO), Reddit has been exploring new revenue avenues, including a $60 million annual AI licensing agreement with Google established in February. Following the announcement of its new sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Key Statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter