Reddit is making a significant move into the sports marketing industry with the announcement of several new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of this initiative, Reddit users will have access to a variety of engaging content such as video highlights from games and tournaments, player Q&A sessions, exclusive behind-the-scenes footage, and other specially curated content throughout the leagues’ seasons and key events.
The platform boasts over 1,000 active communities focused on sports, and it has seen a substantial rise in activity within these forums, with screenviews for sports-related discussions increasing by 26% in the past year.
The sports marketing sector is projected to grow by over 20%, reaching a value of more than $55 billion by 2030, as fans increasingly engage with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In light of its upcoming IPO preparations, Reddit has been exploring various ways to boost its revenue. Earlier this year, the company secured a $60 million annual AI licensing deal with Google. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7%.
Key statistics include 1,000 sports-related Reddit forums, 20.4 billion screenviews of these forums over the last year, and 249 million monthly engagements within sports subreddits globally. Reddit’s revenue for the first quarter stood at $243 million.