Reddit is diving into the expansive sports marketing landscape with a series of new partnerships. The platform announced on Monday its collaborations with some of the biggest sports leagues in the U.S., 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 a variety of content such as video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and exclusive material shared by the leagues during their seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, with a significant uptick in user engagement. Reddit reported a 26% increase in screenviews for sports-related forums over the past year.
The sports marketing industry is expected to grow by more than 20%, reaching a value of over $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for its public offering, it is exploring various revenue opportunities, including a recent $60 million annual AI licensing deal with Google. Following the announcement of its new sports partnerships, Reddit shares surged nearly 7% on Monday.
To summarize some key statistics:
– 1,000 active sports-related subreddits
– 20.4 billion screenviews of sports forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– Projected $55 billion valuation of the sports marketing sector by 2030
– Reddit’s first-quarter revenue was $243 million.