Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with prominent sports leagues including the NFL, NBA, MLB, the PGA Tour, and NASCAR.
Starting Monday, Reddit users will gain access to a variety of exclusive content, which includes video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other special material shared by the leagues during their seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, with a notable increase in interest within these forums. Reddit reported that screen views for sports-related discussions surged by 26% in the past year.
The sports marketing sector is projected to grow by over 20%, reaching an estimated value of more than $55 billion by 2030. Fans are primarily seeking out sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
As Reddit prepares for its public offering, it has been exploring various monetization strategies. Earlier this year, it signed a $60 million-per-year AI licensing agreement with Google. The company recently reported first-quarter revenues that were nearly 50% higher than the previous year, leading to a nearly 7% increase in Reddit’s stock price following the announcement of the new sports partnerships.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views of sports-related Reddit forums over the last year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated worth of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue