Reddit is making a significant move into the sports marketing industry with the announcement of new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of exclusive content, including video highlights from games and tournaments, player Q&A sessions (known as AMAs), behind-the-scenes footage, and other unique materials shared by the leagues throughout their seasons and key events.
According to Reddit, there are over 1,000 active sports-related communities on the platform, with user engagement in these forums seeing a notable increase. The site reported a 26% rise in screenviews within sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a potential public offering, Reddit recently entered into a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares surged nearly 7%.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews in these forums over the last year
– 249 million monthly engagements (posts, votes, comments) within sports subreddits globally
– Estimated sports marketing sector value of $55 billion by 2030
– Reddit’s first-quarter revenue reached $243 million