Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform unveiled several partnerships with major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to video highlights from games and tournaments, player AMAs (ask me anything sessions), exclusive behind-the-scenes content, and more throughout the leagues’ seasons and key events.
Reddit reported that it hosts over 1,000 active sports communities, which have seen a notable surge in activity. The platform noted a 26% increase in screenviews for sports-related forums in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value of over $55 billion by 2030, as fans increasingly engage with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its preparation for going public, Reddit has been exploring various revenue streams, including a $60 million-per-year AI licensing deal with Google that was established in February. Following the announcement of its new sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Here are some key statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter