Reddit is making a significant move into the sports marketing arena, unveiling new partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Announced on Monday, the partnerships will allow Reddit users to access a variety of content, including video highlights from games and tournaments, player AMA sessions, behind-the-scenes videos, and other exclusive material shared by the leagues during their seasons and key events.
The platform currently hosts over 1,000 active communities focused on sports, and engagement in these forums has surged. Reddit reported a 26% increase in screenviews for sports-related discussions over the past year.
Industry analysts predict that the sports marketing sector will grow by more than 20%, reaching a value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) to consume sports content.
In an effort to boost revenue ahead of its anticipated public offering, Reddit has sought various revenue streams, including a $60 million annual AI licensing deal with Google announced earlier this year. Following the announcement of the new sports partnerships, Reddit’s shares experienced a nearly 7% increase.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of sports-related content in the past year
– 249 million monthly engagements in sports subreddits worldwide
– Estimated value of the sports marketing sector projected at $55 billion by 2030
– $243 million in Reddit’s first-quarter revenue