Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform unveiled several partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR (National Association for Stock Car Auto Racing).
As part of this initiative, Reddit users will gain access to video highlights from various games and tournaments, along with player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and exclusive content shared by the leagues throughout their seasons and major events.
The platform boasts more than 1,000 active sports communities, with a marked increase in interest. Over the past year, screenviews on sports-related forums have surged by 26%.
The sports marketing industry is projected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030. Fans are predominantly engaging with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In recent months, Reddit has been exploring new revenue avenues as it prepares for an initial public offering (IPO). Earlier in the year, the company entered into a $60 million annual AI licensing agreement with Google. Following the announcement of the new sports partnerships, Reddit shares rose by nearly 7% on Monday.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of sports-related content in the past year
– 249 million monthly engagements in sports subreddits worldwide
– The projected value of the sports marketing sector by 2030 is $55 billion
– Reddit’s revenue for the first quarter totaled $243 million