Reddit is making a significant move into the growing sports marketing industry.
On Monday, the platform unveiled new partnerships with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and National Association for Stock Car Auto Racing (NASCAR).
As part of these partnerships, Reddit users will gain access to various exclusive content such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other special postings from the leagues throughout their seasons and major events.
Reddit reports having over 1,000 active communities focused on sports, with significant interest observed in these forums. The platform noted a 26% increase in screenviews on sports-related discussions over the past year.
The sports marketing industry is projected to grow by more than 20%, nearing a value of over $55 billion by the year 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue as it approaches a public offering, Reddit signed a $60 million-per-year AI licensing agreement with Google in February. Following a successful initial public offering, the company reported that its first-quarter revenues were nearly 50% higher compared to the previous year. Shares of Reddit rose nearly 7% on Monday after the announcement of these new sports collaborations.
Key statistics include:
– 1,000: The number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector in six years (by 2030)
– $243 million: Reddit’s reported revenue for the first quarter