Reddit is making a significant move into the thriving sports marketing industry. On Monday, the social media platform announced new partnerships with some of the biggest names in sports, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and National Association for Stock Car Auto Racing (NASCAR).
As part of these partnerships, Reddit users will gain access to a variety of content such as video highlights from games and tournaments, player “Ask Me Anything” (AMA) sessions, exclusive behind-the-scenes footage, and more special content from the leagues during their seasons and major events.
According to Reddit, there are over 1,000 active communities dedicated to sports, with a marked increase in interest in these forums. The platform reported a 26% rise in screenviews for sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports content.
In its quest for new revenue streams in anticipation of going public, Reddit previously secured a $60 million-per-year AI licensing agreement with Google in February. Following a successful initial public offering, the company reported first-quarter revenues that were nearly 50% higher compared to the previous year. On Monday, shares of Reddit saw a nearly 7% increase after the announcement of these new sports partnerships.
Key statistics include:
– 1,000: Number of Reddit forums focused on sports
– 20.4 billion: Total screenviews on sports-related forums in the past year
– 249 million: Monthly engagements (including posts, votes, and comments) in sports subreddits worldwide
– $55 billion: Projected market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.