Reddit is making a significant move into the thriving sports marketing industry.
On Monday, the social media platform announced a series of partnerships with prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
As part of these partnerships, Reddit users will have access to game highlights, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and exclusive content shared by the leagues during their seasons and major events.
Reddit noted that it hosts over 1,000 active communities focused on sports, with a significant increase in engagement. Screenviews on 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 valuation of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) to consume sports-related content.
In its effort to enhance revenue ahead of its expected public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of these new sports partnerships, Reddit shares rose nearly 7%.
Key statistics include:
– 1,000: Number of sports-related subreddits
– 20.4 billion: Screenviews of sports-related subreddits in the past year
– 249 million: Monthly engagements in sports subreddits globally
– $55 billion: Projected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter