Reddit is making a significant move into the sports marketing industry with the announcement of new partnerships with major sports leagues including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of engaging content, such as video highlights, player AMAs (Ask Me Anything sessions), exclusive behind-the-scenes footage, and other special content shared by these leagues during their seasons and significant events.
The platform has noted that it hosts over 1,000 active communities focused on sports, with a remarkable 26% increase in screenviews for sports-related forums over the past year.
The sports marketing industry is projected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports-related content.
In an effort to boost its revenue ahead of a potential public offering, Reddit previously secured a $60 million annual AI licensing deal with Google in February. Following the announcement of these new sports partnerships, Reddit’s shares saw an increase of nearly 7% on Monday.
Key figures include:
– 1,000: Total number of sports-focused Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums in the past year
– 249 million: Monthly engagement (including posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected worth of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter of the year