Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting this week, Reddit users will gain access to exclusive content such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and other special materials shared by the leagues during their seasons and at major events.
The platform currently hosts over 1,000 active sports-related communities, with a notable increase in user engagement. In the last year, screenviews for these sports forums on Reddit surged by 26%.
The sports marketing sector is projected to grow by more than 20%, reaching a value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest for new revenue streams ahead of a public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google. Following a successful IPO, Reddit reported first-quarter revenues nearly 50% higher than the previous year, and its shares saw a nearly 7% increase on Monday after announcing the new sports partnerships.
Relevant statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports-related posts over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.