Reddit is making a significant move into the sports marketing arena. On Monday, the platform unveiled new partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these partnerships, Reddit users will gain access to a variety of content such as video highlights from games and tournaments, player Q&A sessions, exclusive behind-the-scenes videos, and other special materials shared by the leagues throughout their seasons and major events.
The platform boasts over 1,000 active sports-related communities, and engagement within these forums has surged, with a reported 26% increase in screenviews over the past year.
The sports marketing industry is projected to grow by more than 20% to an estimated value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In recent months, Reddit has been exploring new revenue-generating strategies ahead of its public offering. This includes a $60 million-per-year artificial intelligence licensing deal with Google that was reached in February. 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 forums on Reddit
– 20.4 billion screenviews of sports-related content over the past year
– 249 million monthly engagements in sports subreddits globally
– An estimated $55 billion market value for the sports marketing sector by 2030
– Reddit’s first-quarter revenue of $243 million