Reddit is making significant strides into the thriving sports marketing industry.
On Monday, the social media platform unveiled several new collaborations with prominent sports organizations, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These partnerships will allow Reddit users to enjoy video highlights from games and tournaments, participate in player AMAs (ask me anything sessions), view behind-the-scenes content, and access other exclusive materials shared by the leagues during their seasons and special events.
Reddit reported that it boasts over 1,000 active communities dedicated to sports, with a notable surge in interest. The platform noted a 26% increase in screenviews for sports-related forums over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to capitalize on this burgeoning market ahead of a potential public offering, Reddit recently signed a $60 million annual AI licensing agreement with Google. After a successful IPO, the company reported first-quarter revenues nearly 50% higher than the previous year’s figures. Following the announcement of the new sports partnerships, Reddit shares experienced a nearly 7% increase on Monday.
Key statistics include:
1,000: Number of sports-related forums on Reddit
20.4 billion: Screenviews of sports-related forums by Reddit users in the past year
249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
$55 billion: Estimated value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter.