Reddit is making a significant move into the sports marketing industry with new collaborations announced on Monday that involve major sports leagues such as the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
These partnerships will enable Reddit users to access a variety of content including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and additional special content provided by the leagues throughout their seasons and major events.
The platform has reported that it currently hosts over 1,000 active communities dedicated to sports, and there has been notable growth in user engagement within these forums. Screenviews on sports-related discussions have increased by 26% in the last year.
The sports marketing sector is projected to expand by more than 20%, reaching a value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In an effort to bolster its finances ahead of a potential public offering, Reddit struck a lucrative $60 million-per-year artificial intelligence licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares soared nearly 7% on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of these forums in the past year
– 249 million monthly engagements in sports subreddits worldwide
– An estimated sports marketing sector worth $55 billion by 2030
– $243 million in Reddit’s first-quarter revenue.