Reddit is making significant strides in the sports marketing arena, announcing a series of new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
The platform revealed on Monday that it will provide users with access to a variety of content, including video highlights from games and tournaments, player Ask Me Anything (AMA) sessions, behind-the-scenes videos, and other exclusive material shared by the leagues during their seasons and major events.
According to Reddit, there are over 1,000 active communities dedicated to sports, with a notable increase in activity. The site reported a 26% rise in screenviews on sports-related forums over the past year.
The sports marketing industry is projected to grow more than 20%, reaching a valuation of over $55 billion by 2030. Fans are increasingly seeking sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to enhance revenue as it prepares for a public offering, Reddit previously secured a $60 million annual AI licensing deal with Google in February. Following a successful IPO and the announcement of the sports partnerships, Reddit’s first-quarter revenue surged nearly 50% compared to the previous year, leading to a nearly 7% increase in Reddit stock on Monday.
The statistics highlight the scale of Reddit’s sports engagement:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of sports forums in the past year
– 249 million monthly engagements in sports subreddits globally
– $55 billion is the estimated value of the sports marketing sector by 2030
– $243 million is Reddit’s revenue for the first quarter.