Reddit is making a significant push into the sports marketing arena with a series of partnerships announced on Monday with major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to video highlights from games and tournaments, player AMA (Ask Me Anything) sessions, behind-the-scenes content, and other exclusive materials shared by these leagues throughout their seasons and key events.
Reddit highlighted that it hosts over 1,000 active sports-related communities, noting a 26% increase in screenviews within those forums over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
This move comes as Reddit seeks new revenue streams in preparation for its potential public offering. Earlier this year, the platform secured a $60 million annual AI licensing agreement with Google. Following the announcement of the new sports partnerships, Reddit shares saw a nearly 7% increase on Monday.
Key statistics include:
– 1,000: Sports-related Reddit forums
– 20.4 billion: Screenviews on sports-related Reddit forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Revenue reported by Reddit for the first quarter.