Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform revealed multiple 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 gain access to video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes content, and other exclusive materials shared by the leagues during their seasons and major events.
The social media platform reported that it operates over 1,000 active communities within the sports category, with significant growth in interest. Screenviews in sports-related forums have surged by 26% over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
To bolster its revenue streams ahead of its anticipated public offering, Reddit has been exploring various initiatives. Earlier this year, it secured a $60 million-per-year AI licensing agreement with Google. Following a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year. Reddit’s shares saw an increase of almost 7% on Monday after the announcement of its new sports partnerships.
Key Figures:
1,000: Number of sports-related Reddit forums
20.4 billion: Screenviews of sports-related Reddit forums over the last year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s first-quarter revenue