Reddit is making a significant move into the sports marketing arena, announcing new partnerships with several prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
The social media platform revealed on Monday that Reddit users will gain access to exclusive content such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other unique material shared by the leagues during their seasons and key events.
According to Reddit, there are over 1,000 active communities focused on sports, and engagement in these forums has surged, with screen views of sports-related content rising by 26% over the past year.
The sports marketing industry is projected to grow over 20% and reach a value exceeding $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring new revenue streams as it prepares for its public offering. Earlier this year, it entered into a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares saw a nearly 7% increase on Monday, and the company reported first-quarter revenues nearly 50% higher than the previous year.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views of sports-related Reddit forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue