Reddit is making significant strides into the sports marketing arena. On Monday, the platform unveiled a series of new partnerships with several major 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 benefit from a variety of content such as video highlights from games and tournaments, player ask-me-anything (AMA) sessions, and exclusive behind-the-scenes videos shared by the leagues throughout their respective seasons and key events.
The platform indicated that it hosts over 1,000 active sports communities, which have seen a notable surge in activity. Screenviews in sports-related forums increased by 26% in the last year, highlighting growing interest among users.
The sports marketing industry is projected to grow over 20%, surpassing $55 billion by 2030, with many fans turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
In an effort to diversify its revenue streams ahead of a potential public offering, Reddit previously entered into a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of these new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
To summarize the impact:
– 1,000: Active sports-related forums on Reddit
– 20.4 billion: Screenviews of sports forums over the past year
– 249 million: Monthly interactions in sports subreddits worldwide
– $55 billion: Estimated market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter of the year