Reddit is making a significant entrance into the sports marketing industry. On Monday, the platform unveiled several new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
With these partnerships, Reddit users will have access to a variety of content, such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and other exclusive materials shared by the leagues during their seasons and major events.
Reddit boasts over 1,000 active sports communities, and interest in these forums has surged. The site reported a 26% increase in screenviews for sports-related content in the past year.
The sports marketing sector is projected to grow by more than 20%, potentially exceeding a value of $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a planned public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of these new sports partnerships, Reddit experienced a nearly 7% increase in its stock value on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports forums in the past year
– 249 million monthly engagements in sports subreddits worldwide
– $55 billion estimated value of the sports marketing sector by 2030
– $243 million in revenue reported by Reddit for the first quarter.