Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform unveiled several partnerships with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these new collaborations, Reddit users will gain access to various exclusive content, such as video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and other special features shared by the leagues during their seasons and key events.
Reddit has indicated that it boasts over 1,000 active communities focused on sports, with a notable surge in interest within those forums. In the past year, screen views of sports-related discussions have risen by 26%.
The sports marketing industry is projected to grow significantly, with estimates suggesting it could exceed $55 billion by 2030. Fans are increasingly engaging with sports content on platforms like YouTube, Facebook, and X (formerly Twitter), which underlines the potential for growth in this area.
As Reddit prepares for a public offering, it has been exploring new revenue avenues. Earlier this year, it entered into a $60 million annual AI licensing agreement with Google. Following the announcement of its sports partnerships, Reddit shares saw an almost 7% increase on Monday.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screen views in sports-related discussions over the last year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– Estimated $55 billion value of the sports marketing sector by 2030
– Reddit’s first-quarter revenue reported at $243 million.