Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and 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 content, and other exclusive materials shared by the leagues during their seasons and major events.
The platform has over 1,000 active communities dedicated to sports, and engagement in these forums has surged recently. Reddit reported a 26% increase in screen views in sports-related discussions over the past year.
The sports marketing industry is projected to grow by over 20%, potentially exceeding a value of $55 billion by 2030, with fans increasingly seeking content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its effort to diversify revenue streams ahead of a potential public offering, Reddit secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7%.
Key statistics include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screen views on these forums over the past year
– 249 million monthly engagements in sports-themed subreddits worldwide
– $55 billion is the forecasted value of the sports marketing sector by 2030
– $243 million was Reddit’s revenue for the first quarter.