Reddit is making a significant move into the sports marketing industry, unveiling new partnerships with major sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to various exclusive content such as video game highlights, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and additional special features shared by the leagues throughout their seasons and major events.
The platform has reported that it hosts over 1,000 active sports-focused communities, where engagement has surged significantly. Screenviews of sports-related forums on Reddit have risen by 26% in the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
Reddit is exploring diverse avenues for revenue as it prepares for a public offering. Earlier this year, it entered into a $60 million annual AI licensing agreement with Google. Following a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year. Reddit’s shares saw a nearly 7% increase on Monday after announcing the new sports partnerships.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports-related forums in the past year
– 249 million monthly engagements in sports subreddits worldwide
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million in revenue reported for Reddit in the first quarter