Reddit is making significant moves into the sports marketing industry with new partnerships announced on Monday. The social media platform has collaborated with 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 various types of content, such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and exclusive material shared by the leagues during their seasons and major events.
Reddit has reported that it hosts over 1,000 active communities focused on sports, with user interest in these forums seeing a significant rise. In the past year, screenviews on sports-related forums surged by 26%.
The market for sports marketing is projected to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In its pursuit of new revenue streams ahead of a potential initial public offering (IPO), Reddit secured a $60 million-per-year AI licensing agreement with Google earlier this year. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue in the first quarter of this year