Reddit is making a significant move into the sports marketing industry, unveiling several new partnerships with prominent sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
The platform announced on Monday that users will enjoy access to video highlights from games and tournaments, ask-me-anything sessions with players, behind-the-scenes footage, and other exclusive content shared by the leagues during their seasons and major events.
According to Reddit, the site features over 1,000 active sports-related communities, with a notable surge in interest. Screenviews in these sports forums have risen by 26% in the past year.
The sports marketing sector is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030. Fans have primarily been turning to platforms like YouTube, Facebook, and X (formerly Twitter) to engage with sports content.
In light of its preparations for a public offering, Reddit has been exploring new revenue streams. Earlier this year, it entered a $60 million annual AI licensing agreement with Google. Following a successful initial public offering, Reddit reported first-quarter revenues nearly 50% higher than the previous year, and on Monday, shares rose nearly 7% in response to the announcement of its new sports partnerships.
Key figures from Reddit include:
– 1,000 active sports-related forums
– 20.4 billion screenviews of sports forums in the last year
– 249 million monthly engagements in sports subreddits globally
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue