Reddit is making a significant move into the profitable sports marketing arena, announcing several new partnerships with major sports leagues on Monday. These leagues include the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
As part of these partnerships, Reddit users will gain access to a variety of content, including video highlights from games and tournaments, “Ask Me Anything” sessions with players, behind-the-scenes videos, and other exclusive material shared by the leagues throughout their seasons and major events.
The platform revealed it hosts over 1,000 active communities focused on sports, with a notable increase in interest. Screenviews on sports-related forums have surged by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, expected to surpass $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In its efforts to boost revenue ahead of a potential public offering, Reddit secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7%.
In summary:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews on sports forums over the last year
– 249 million: Monthly engagements in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter