Reddit is making a significant foray into the sports marketing industry with new partnerships announced on Monday with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of this initiative, Reddit users can expect to access video highlights from major events, player AMAs (Ask Me Anything sessions), exclusive behind-the-scenes content, and other special material shared by the leagues during their seasons and major occasions.
The platform has highlighted that it hosts over 1,000 active communities centered around sports, with engagement in these forums seeing a notable rise. Screenviews for sports-related topics on Reddit increased by 26% over the previous year.
The sports marketing sector is projected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its pursuit of alternative revenue streams ahead of a potential public offering, Reddit previously entered a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares experienced a nearly 7% increase.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews on sports-related content over the past year
– 249 million monthly engagements in sports-related subreddits globally
– $55 billion estimated value of the sports marketing industry by 2030
– $243 million revenue reported by Reddit for the first quarter.