Reddit is making a significant move into the sports marketing arena. 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 on Monday.
As part of these partnerships, Reddit users will gain access to game highlights, player AMA sessions, exclusive behind-the-scenes footage, and other special content shared by the leagues during their seasons and key events.
According to Reddit, there are over 1,000 active communities centered around sports on the site, with a notable surge in interest. The platform reported a 26% increase in screen views for sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly using platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In preparation for its anticipated public offering, Reddit has sought various revenue streams, including a $60 million-per-year AI licensing deal with Google last February. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
To summarize some key statistics:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.