Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday. The social media platform has teamed up with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to various exclusive content, such as game and tournament highlights, player “Ask Me Anything” sessions, behind-the-scenes videos, and other special updates from the leagues during their seasons and key events.
Reddit boasts over 1,000 active sports communities, with a notable surge in interest in these forums. The platform reported a 26% increase in screenviews related to sports discussions over the past year.
The sports marketing industry is projected to grow over 20%, reaching a value of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to widen revenue streams ahead of a potential public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit shares saw a nearly 7% rise on Monday.
Key figures include:
– 1,000: Number of sports-related Reddit forums.
– 20.4 billion: Screenviews by Reddit users of sports-related forums over the past year.
– 249 million: Total monthly engagements (including posts, votes, and comments) in sports subreddits worldwide.
– $55 billion: Projected market value of the sports marketing sector by 2030.
– $243 million: Reddit’s revenue for the first quarter.