Reddit is making a significant move into the sports marketing industry. The social media platform announced on Monday a series of new collaborations 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 video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other exclusive content shared by the leagues throughout their seasons and major events.
The company highlighted that it has over 1,000 active communities dedicated to sports, which have seen a substantial uptick in engagement. Specifically, screenviews on sports-related forums have increased by 26% in the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports-related content.
In a bid to boost its revenues ahead of a planned public offering, Reddit previously 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% on Monday.
Key figures include:
– 1,000 active sports-related forums on Reddit
– 20.4 billion screenviews of these forums over the past year
– 249 million monthly engagements (posts, votes, comments) within sports subreddits worldwide
– An estimated $55 billion valuation for the sports marketing sector by 2030
– Reddit’s first-quarter revenue reported at $243 million.