Reddit is making a significant entry into the thriving sports marketing market.
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.
Users on Reddit will have access to a variety of exciting content, including video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and exclusive content shared by the leagues during their seasons and major events.
Reddit has more than 1,000 active communities dedicated to sports, and interest in these forums has surged. The platform reported a 26% increase in screen views on sports-related forums over the past year.
The sports marketing sector is projected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for its public offering, the company is exploring new revenue streams. Earlier this year, it entered into a $60 million-per-year AI licensing agreement with Google. Following a successful initial public offering, Reddit reported first-quarter revenues that were nearly 50% higher than in the previous year, resulting in a nearly 7% increase in its stock price on Monday after announcing the new sports partnerships.
Key Statistics:
1,000: Number of sports-related Reddit forums
20.4 billion: Screen views of sports-related Reddit forums over the past year
249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter