Reddit is making a significant move into the sports marketing industry with the announcement of multiple partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of content, including game and tournament highlights, player Q&A sessions, behind-the-scenes videos, and exclusive material shared by the leagues during their seasons and key events.
The platform boasts over 1,000 active sports-related communities, showing substantial growth in user engagement. According to Reddit, screenviews in these sports forums have risen by 26% in the past year.
The sports marketing industry is expected to grow by more than 20%, reaching a valuation of over $55 billion by 2030, as fans increasingly gravitate towards platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for its public offering, it has been exploring various revenue opportunities, including a $60 million-per-year AI licensing agreement with Google established in February. Following the announcement of the new sports partnerships, Reddit shares rose by nearly 7%.
Key statistics highlight the platform’s reach in sports:
– 1,000 active sports-related forums on Reddit
– 20.4 billion screenviews of sports forums over the last year
– 249 million monthly engagements in global sports subreddits
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.