Reddit is making a significant move into the thriving sports marketing industry.
The social media platform announced new partnerships on Monday with several major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other exclusive content from the leagues during their seasons and major events.
According to Reddit, there are over 1,000 active communities centered around sports on the platform, which have seen a notable increase in activity. Screenviews of sports-related forums have surged by 26% in the past year.
The sports marketing sector is projected to grow over 20%, reaching a valuation of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to bolster its revenue as it prepares for a public offering, Reddit recently secured a $60 million annual AI licensing deal with Google in February. Following a successful IPO, the company reported first-quarter revenues that were nearly 50% higher than the previous year. The announcement of the new sports partnerships also led to a nearly 7% increase in Reddit’s stock shares on Monday.
Key Statistics:
1,000: Number of sports-related Reddit forums
20.4 billion: Screenviews of sports-related Reddit forums in the past year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s first-quarter revenue