Reddit is making a significant move into the sports marketing industry.
On Monday, the social media platform revealed several new collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
These partnerships will allow Reddit users to access video highlights from games and tournaments, player “Ask Me Anything” (AMA) sessions, behind-the-scenes footage, and other exclusive content shared by the leagues throughout their seasons and major events.
Reddit reported having more than 1,000 active sports-related communities on its platform, with user engagement in these forums surging. The company noted a 26% increase in screenviews for sports-related discussions over the past year.
The sports marketing sector is projected to grow over 20%, reaching a value of more than $55 billion by 2030, as fans continue to seek out sports content primarily on platforms like YouTube, Facebook, and X (formerly known as Twitter).
In an effort to explore new revenue streams ahead of going public, Reddit previously established a $60 million-per-year AI licensing agreement with Google in February. Following a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than a year earlier. Reddit shares climbed nearly 7% on Monday following the announcement of its new sports partnerships.
Key Statistics:
– 1,000: Active sports-related forums on Reddit
– 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: Projected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter