Reddit is making a significant move into the growing sports marketing industry.
On Monday, the social media platform revealed multiple new partnerships with prominent sports organizations including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
With these collaborations, Reddit users will have access to a variety of engaging content such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other exclusive materials provided by the leagues throughout their respective seasons and key events.
Reddit stated that it boasts over 1,000 active communities dedicated to sports, and interest in these forums has surged. The platform reported a 26% increase in screen views on sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated worth of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit explores new revenue channels in preparation for its upcoming public offering, it previously entered into a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of these sports partnerships, the company’s shares rose nearly 7% on Monday.
Here are some key figures related to this development:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screen views of sports-related forums on Reddit in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue in the first quarter