Reddit is making significant strides into the sports marketing arena.
On Monday, the social media platform revealed a series of new collaborations with prominent sports leagues including the National Football League (NFL), 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 an array of content such as video highlights from games and tournaments, player “Ask Me Anything” (AMA) sessions, behind-the-scenes footage, and other exclusive materials shared by the leagues throughout their seasons and major events.
Reddit reported having over 1,000 active communities related to sports, which have seen a surge in interest. Screenviews on these sports-related forums have increased by 26% in the last year.
The sports marketing industry is projected to grow by over 20%, reaching an estimated value exceeding $55 billion by 2030. Fans are primarily engaging with sports content on platforms like YouTube, Facebook, and X (formerly known as Twitter).
In its effort to boost revenue ahead of a public offering, Reddit previously secured a $60 million-per-year AI licensing deal with Google in February. Following a successful IPO, Reddit announced first-quarter revenues that were nearly 50% higher than the previous year. The announcement of the new sports partnerships led to a nearly 7% increase in Reddit’s shares on Monday.
In summary:
1,000: The number of sports-related forums on Reddit
20.4 billion: Screenviews by Reddit users in sports-related forums over the past year
249 million: Monthly engagements in sports subreddits worldwide
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter