Reddit is making a significant move into the sports marketing industry by forming new partnerships with prominent sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
On Monday, the platform announced that users will have access to video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes content, and various special features shared by the leagues throughout their seasons and major events.
Reddit has reported that it boasts over 1,000 active communities focused on sports, with user engagement in these forums surging. The social media site noted a 26% increase in screenviews of sports-related content over the past year.
The sports marketing sector is projected to grow over 20% to exceed $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its pursuit of revenue growth ahead of a public offering, Reddit secured a $60 million per year AI licensing agreement with Google in February. After announcing its new sports partnerships, the company saw its shares rise nearly 7% on Monday.
Key figures include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports content in the past year
– 249 million monthly engagements in global sports subreddits
– $55 billion projected value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue