Reddit is making significant strides into the sports marketing industry with new partnerships. The platform announced on Monday collaborations with major sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As a result of these partnerships, Reddit users will gain access to an array of video highlights from games and tournaments, player “Ask Me Anything” sessions (AMAs), behind-the-scenes footage, and exclusive content shared by the leagues throughout their seasons and key events.
Reddit reports that it has over 1,000 active communities dedicated to sports, and engagement in these forums has seen substantial growth. Screen views on sports-related threads increased by 26% in the past 12 months.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, with fans primarily turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
To bolster its revenue ahead of a potential public offering, Reddit secured a $60 million annual AI licensing deal with Google earlier this year. Following the announcement of the new sports partnerships, Reddit shares rose nearly 7%.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screen views of these forums over the past year
– 249 million monthly engagements (posts, votes, comments) across global sports subreddits
– $55 billion projected market value for the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.