Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform unveiled several new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
The partnerships will provide Reddit users with access to a range of engaging content, including game and tournament video highlights, player ask-me-anything sessions, behind-the-scenes footage, and exclusive content shared by the leagues during their seasons and major events.
Reddit boasts over 1,000 active sports communities, which have seen a surge in engagement. The platform reported a 26% increase in screen views in sports-related forums over the past year.
The sports marketing industry is projected to grow by over 20%, reaching an estimated value of more than $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 public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics highlight Reddit’s influence in the sports domain:
– 1,000: Active sports-related forums on Reddit
– 20.4 billion: Screen views of these forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.