Reddit is making a significant move into the sports marketing industry with the announcement of new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
From Monday onward, Reddit users will have access to a variety of exclusive content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other special posts from the leagues during their seasons and key events.
The platform highlighted that it boasts over 1,000 active communities dedicated to sports, with a noticeable increase in interest within those forums. Data shows that screenviews on sports-related discussions surged by 26% over the past year.
The sports marketing sector is forecasted to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest for new revenue streams ahead of a potential IPO, Reddit previously entered into a $60 million annual AI licensing agreement with Google in February. Following the successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year. The announcement of the new sports partnerships led to a nearly 7% rise in Reddit’s stock on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Redditors’ screenviews of sports-related content over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter