Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform revealed a series of new partnerships with prominent sports leagues including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to a variety of content including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and other exclusive materials shared by the leagues during their respective seasons and major events.
The platform boasts over 1,000 active communities categorically focused on sports, with a notable increase in user interest. Reddit reported a 26% rise in screenviews for 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.
To enhance its revenue streams ahead of its anticipated initial public offering (IPO), Reddit secured a $60 million per year AI licensing agreement with Google earlier this year. Following the announcement of these new sports partnerships, Reddit shares experienced a nearly 7% increase.
Key statistics include:
– 1,000 active sports-oriented Reddit forums
– 20.4 billion screenviews of sports-related content on Reddit in the past year
– 249 million global monthly engagements (posts, votes, comments) in sports subreddits
– $55 billion projected value of the sports marketing sector by 2030
– $243 million in Reddit’s revenue for the first quarter.