Reddit is making a significant move into the sports marketing arena. On Monday, the 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 NASCAR.
As part of these partnerships, Reddit users will have access to a variety of engaging content, including video highlights from games and tournaments, player AMA sessions (ask me anything), behind-the-scenes videos, and other exclusive material shared by the leagues throughout their seasons and major events.
The platform noted that it hosts over 1,000 active sports communities, which have seen a considerable surge in engagement. Screenviews on sports-related forums increased by 26% in the last year.
The sports marketing industry is projected to grow over 20% in value, exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a planned IPO, Reddit previously entered into a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, the company saw its shares rise nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews in sports forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s reported revenue for the first quarter.