Reddit is making a significant move into the thriving sports marketing industry.
On Monday, the social media platform revealed new collaborations with several prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
As part of these partnerships, Reddit users will gain access to video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and exclusive content shared by the leagues during their seasons and key events.
Reddit boasts over 1,000 active communities focused on sports, and interest in these forums has surged. According to the platform, views on sports-related forums have risen by 26% over the past year.
The sports marketing sector is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Amid preparations for a public offering, Reddit has been exploring new revenue streams. Earlier this year, it struck a $60 million annual AI licensing deal with Google. Following a successful initial public offering, the company reported first-quarter revenues that were almost 50% higher than the previous year. Reddit shares saw an increase of nearly 7% on Monday after the announcement of the new sports partnerships.
Key statistics include:
– 1,000: 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 by 2030
– $243 million: Reddit’s revenue for the first quarter