Reddit is making a significant move into the sports marketing sector with the announcement of new partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR. This initiative aims to bolster the platform’s engagement and content offerings for sports fans.
Starting this week, Reddit users will have access to an array of exclusive content, including video highlights from games and tournaments, player AMA sessions, behind-the-scenes videos, and various other special materials shared by the leagues throughout the season and during significant events.
The platform highlighted that it hosts over 1,000 active communities dedicated to sports, with a noticeable increase in user engagement. In fact, screenviews of sports-related discussions on the site surged by 26% over the past year.
The sports marketing industry is expected to grow significantly, with projections indicating a more than 20% increase to exceed $55 billion by 2030. Fans are currently gravitating towards platforms such as YouTube, Facebook, and X (formerly Twitter) for sports content.
To enhance its financial standing ahead of a potential public offering, Reddit has explored various revenue streams, including a $60 million-per-year AI licensing agreement with Google established in February. Following the announcement of its new sports partnerships, Reddit experienced a nearly 7% rise in its stock on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, comments, votes) in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue