Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform unveiled multiple 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.
These partnerships will grant Reddit users access to a variety of exclusive content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other unique materials shared by the leagues throughout their seasons and major events.
Reddit has reported over 1,000 active communities focused on sports, with a noticeable surge in engagement. Screenviews for sports-related forums have risen by 26% in the past year.
The sports marketing industry is projected to witness a growth of more than 20%, reaching an estimated value of over $55 billion by 2030. Fans are predominantly accessing sports content on platforms like YouTube, Facebook, and X (formerly known as Twitter).
As Reddit prepares for its public offering, the company is exploring new revenue streams. Earlier this year, it secured a $60 million annual AI licensing deal with Google. Following a successful IPO, Reddit disclosed that its first-quarter revenues were nearly 50% higher compared to the previous year. Following the announcement of its new sports partnerships, Reddit’s stock rose by nearly 7%.
Key statistics include:
1,000: Number of sports-related Reddit forums
20.4 billion: Screenviews of sports-related Reddit forums in the past year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter