Reddit is making a significant move into the sports marketing sector with the announcement of new partnerships involving major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will gain access to a variety of content, including video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and exclusive updates throughout the leagues’ seasons and key events.
The platform boasts over 1,000 active communities focused on sports, with a notable increase in interest. Reddit reported a 26% rise in screenviews for sports-related forums over the past year.
The sports marketing industry is expected to grow by more than 20%, surpassing a value of $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to boost revenue ahead of a potential public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google. Following the announcement of the new sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews on sports-related forums in the last year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.