Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform unveiled new partnerships with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to game and tournament video highlights, player AMAs (Ask Me Anything sessions), exclusive behind-the-scenes videos, and other unique content shared by the leagues during their seasons and major events.
Reddit has highlighted that it hosts over 1,000 active communities centered around sports, with engagement in these forums seeing a notable rise. Specifically, screenviews for sports-related discussions surged by 26% in the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest for new revenue streams ahead of a public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google in February. Following a successful initial public offering, the company reported first-quarter earnings nearly 50% higher than the previous year, resulting in a nearly 7% jump in Reddit’s stock price on Monday after the announcement of its sports partnerships.
Key statistics include:
– 1,000: The number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue in the first quarter of this year