Reddit is making a significant move into the sports marketing industry.
On Monday, the platform revealed several new collaborations with prominent sports organizations, 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 be able to access video highlights from games and tournaments, participate in player Q&A sessions, view behind-the-scenes footage, and enjoy exclusive content shared by the leagues during their respective seasons and major events.
Reddit has reported that it currently hosts over 1,000 active sports communities, with a notable increase in engagement. Screenviews in sports-related forums have risen by 26% in the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans are primarily consuming sports content on YouTube, Facebook, and X (formerly Twitter), making this a lucrative opportunity for Reddit.
In an effort to bolster its revenue as it prepares for an initial public offering, Reddit recently secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of the new sports partnerships, Reddit shares climbed nearly 7% on Monday.
Key Statistics:
– 1,000 active sports forums on Reddit
– 20.4 billion screenviews in sports-related forums over the last year
– 249 million monthly engagements (posts, votes, comments) within sports subreddits globally
– $55 billion estimated value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue