Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday involving prominent sports leagues. These include the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
The social media platform will provide its users with access to video highlights from games and tournaments, Q&A sessions with players, behind-the-scenes footage, and additional exclusive content shared by the leagues during their seasons and major events.
Reddit reports having over 1,000 active communities dedicated to sports, with a notable increase in engagement. Screenviews on sports-related forums surged by 26% in the past year.
The sports marketing sector is expected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a potential public offering, Reddit entered into a $60 million annual AI licensing deal with Google earlier this year. Following the announcement of these new sports partnerships, Reddit saw its stock rise nearly 7%.
By the numbers:
1,000: Number of sports-related Reddit forums
20.4 billion: Screenviews of sports-related Reddit forums over the past year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Projected valuation of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter