Reddit is making a significant move into the sports marketing industry.
On Monday, the social media platform announced new partnerships with several major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Through these collaborations, Reddit users will gain access to a variety of exclusive content, such as video highlights from games and tournaments, player Q&A sessions, behind-the-scenes videos, and special content shared by the leagues during their seasons and key events.
Reddit noted that it has over 1,000 active communities focused on sports, with a notable surge in interest. Screenviews on sports-related forums have reportedly risen by 26% in the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
To support its financial goals leading up to a public offering, Reddit has sought various revenue opportunities, including a $60 million annual AI licensing agreement with Google established in February. Following the announcement of the sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related content on Reddit over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter