Reddit is making a significant move into the thriving sports marketing industry. On Monday, the platform revealed new collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will enjoy access to video highlights from games and tournaments, player AMA (ask me anything) sessions, behind-the-scenes videos, and exclusive content shared by the leagues during their seasons and major events.
The platform highlighted that it boasts over 1,000 active communities focused on sports, with a notable rise in engagement within these forums. The company reported a 26% increase in screenviews on sports-related discussions over the past year.
The sports marketing sector is expected to grow by more than 20%, reaching a valuation of 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 boost revenue ahead of a public offering, Reddit recently secured a $60 million-per-year AI licensing deal with Google. Following a successful initial public offering, the company announced first-quarter revenues nearly 50% higher than the previous year. Following the announcement of the sports partnerships, Reddit shares saw an increase of almost 7%.
Key Statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related content on Reddit in the past year
– 249 million: Monthly engagements (including posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter