Reddit is making a bold entry into the thriving sports marketing industry.
On Monday, the social media platform unveiled multiple new collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
With these partnerships, Reddit users will gain access to exclusive video highlights from games and tournaments, player Q&A sessions, behind-the-scenes content, and other unique materials shared by the leagues during their seasons and major events.
Reddit highlighted that it boasts over 1,000 active communities centered on sports, and engagement in these forums has significantly surged. The platform reported a 26% increase in screenviews on sports-related discussions in the past year.
The sports marketing segment is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030, predominantly as fans are turning to platforms like YouTube, Facebook, and X (formerly Twitter) to explore sports content.
In its quest for financial growth ahead of a potential public offering, Reddit has been exploring new revenue avenues. Earlier this year, it secured a $60 million annual AI licensing agreement with Google. Following a successful IPO, Reddit announced first-quarter revenues that were nearly 50% higher than the previous year, with shares soaring nearly 7% after the announcement of the new sports alliances.
Key Figures:
1,000: Number of sports-related Reddit communities
20.4 billion: Screenviews on sports-themed Reddit forums in the past year
249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
$55 billion: Projected market value of sports marketing by 2030
$243 million: Reddit’s revenue for the first quarter