Reddit is making significant strides into the sports marketing arena. On Monday, the platform unveiled several new 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 (National Association for Stock Car Auto Racing).
As part of this initiative, Reddit users will have access to a variety of content, including video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and exclusive materials shared by the leagues throughout their seasons and important events.
The platform boasts over 1,000 active communities centered around sports, and engagement in these forums has surged recently. Reddit reported a 26% increase in screenviews for sports-related discussions in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
In a move to enhance its revenue streams in preparation for a public offering, Reddit earlier reached a $60 million annual AI licensing agreement with Google. Following its successful IPO, the company announced that its first-quarter revenues were nearly 50% higher than the previous year. The announcement of these new sports partnerships led to a nearly 7% rise in Reddit’s stock on Monday.
Key figures include:
1,000: Number of sports-related Reddit forums
20.4 billion: Screenviews of sports-related Reddit forums over the past year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Estimated value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter