Reddit is making significant inroads into the sports marketing industry. On Monday, the social media platform revealed 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 access to video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes footage, and exclusive content shared by the leagues during the sports seasons and major events.
Reddit boasts over 1,000 active sports communities, with user engagement in these forums seeing a remarkable 26% increase in screenviews over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In pursuit of new revenue streams ahead of a potential public offering, Reddit previously secured a $60 million annual AI licensing deal with Google. Following a successful initial public offering (IPO), the company reported first-quarter revenues nearly 50% higher than the previous year. After announcing the new sports partnerships, Reddit shares rose nearly 7% on Monday.
Key Statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews on sports-related forums in the past year
– 249 million: Monthly engagements in sports subreddits globally
– $55 billion: Estimated worth of the sports marketing industry by 2030
– $243 million: Reddit’s first-quarter revenue