Reddit is taking a bold step into the sports marketing arena with new partnerships announced on Monday involving major sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
The social media platform will offer users access to a variety of content such as game highlights, player AMAs (ask-me-anything sessions), behind-the-scenes videos, and exclusive materials shared by the leagues during their respective seasons and significant events.
Currently, Reddit boasts over 1,000 active communities centered on sports, with a notable 26% increase in screenviews on these forums over 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 seek out content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its pursuit of revenue growth in preparation for an initial public offering (IPO), Reddit previously signed a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares experienced a nearly 7% increase on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews in sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.