Reddit is making a significant entry into the sports marketing arena. On Monday, the social media platform announced new partnerships with several major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
This initiative will allow Reddit users to access video highlights from games, player AMAs (Ask Me Anything sessions), behind-the-scenes content, and other exclusive materials from the leagues throughout their respective seasons and key events.
Reddit has noted that it hosts more than 1,000 active sports communities, with interest in these forums rising sharply. The platform reported a 26% increase in screenviews for sports-related discussions over the past year.
The sports marketing industry is anticipated to grow by over 20%, reaching a value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In recent months, Reddit has explored new revenue opportunities as it prepares for a public offering. Earlier this year, it entered into a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares saw a nearly 7% increase in value on Monday.
By the numbers:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews on sports-related Reddit forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) 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