Reddit is making a significant move into the sports marketing realm, announcing a series of new partnerships with major sports leagues including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Starting this week, Reddit users will have access to various features such as game and tournament video highlights, player AMAs (Ask Me Anything sessions), behind-the-scenes content, and additional exclusive offerings from these leagues throughout their respective seasons and major events.
The platform highlighted that it boasts over 1,000 active sports communities, with engagement in these forums surging sharply. Screenviews for sports-related discussions increased by 26% in the past year.
The sports marketing sector is projected to experience significant growth, with forecasts suggesting it will exceed $55 billion by 2030. Fans increasingly turn to platforms like YouTube, Facebook, and X (previously Twitter) for sports content.
As Reddit prepares for its public offering, it has been exploring diverse revenue streams. Earlier this year, it secured a $60 million annual AI licensing agreement with Google. Following the announcement of its sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews in these forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– An estimated $55 billion valuation for the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue