Reddit is making significant strides into the sports marketing industry.
On Monday, the social media platform revealed a series of new collaborations with prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will have access to a variety of content including video highlights from games and tournaments, player Q&A sessions (known as AMAs), behind-the-scenes videos, and exclusive material shared by the leagues throughout their seasons and key events.
Reddit boasts over 1,000 active sports-related communities, and interest in these forums has surged, with a reported 26% increase in screen views on sports topics over the past year.
The sports marketing sector is expected to grow by over 20%, reaching a valuation of more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
Reddit has been exploring new revenue opportunities as it prepares for an initial public offering (IPO). Earlier this year, it secured a $60 million annual AI licensing agreement with Google. Following a successful IPO, the company reported first-quarter revenues that were nearly 50% higher than those from the previous year. After announcing the new sports partnerships, Reddit’s stock rose nearly 7%.
Key statistics include:
– 1,000: The number of sports-related Reddit communities
– 20.4 billion: Screen views of sports-related forums on Reddit over the past year
– 249 million: Monthly engagements (including posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected market value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter.