Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform revealed several new partnerships 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 collaborations, Reddit users will have access to video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes content, and other special material shared by the leagues during their seasons and major events.
According to Reddit, there are over 1,000 active communities dedicated to sports, and engagement in these forums has surged. The platform reported a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing industry is projected to grow by more than 20% to exceed $55 billion by 2030, with fans increasingly utilizing platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring various revenue streams in preparation for its public offering. Earlier this year, the company secured a $60 million-per-year AI licensing agreement with Google. Following a successful IPO, Reddit’s first-quarter revenues rose nearly 50% compared to the previous year, and the announcement of the new sports partnerships resulted in a nearly 7% increase in Reddit’s stock price on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related content over the last year
– 249 million: Monthly engagements (posts, votes, comments) within sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue