Reddit is making significant strides into the sports marketing industry.
On Monday, the social media platform unveiled a series of new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Users on Reddit will gain access to video highlights from games and tournaments, player Q&A sessions (known as AMAs), behind-the-scenes footage, and exclusive content shared by the leagues throughout their seasons and major events.
Reddit claims to host over 1,000 active communities focused on sports, with traffic in these forums seeing a notable uptick. The site reported a 26% increase in screenviews for sports-related topics over the past year.
The sports marketing sector is projected to experience significant growth, with an estimated increase of more than 20%, reaching a valuation exceeding $55 billion by 2030. Fans predominantly seek out sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its pursuit of new revenue streams ahead of a potential public offering, Reddit previously secured a $60 million-per-year artificial intelligence licensing agreement with Google in February. Following a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year, and Reddit shares saw a nearly 7% increase on Monday after the announcement of the sports partnerships.
Key statistics include:
– 1,000 active sports-related forums on Reddit
– 20.4 billion screenviews of sports topics over the last year
– 249 million monthly engagements (posts, votes, comments) in global sports subreddits
– An estimated $55 billion value for the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue