Reddit is making a significant move into the sports marketing industry with the announcement of new partnerships with several major sports leagues. The platform revealed on Monday that it will collaborate with the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users can look forward to a variety of engaging content, including video highlights from games and tournaments, player Q&A sessions known as AMAs, behind-the-scenes videos, and other exclusive material shared by the leagues throughout their respective seasons and major events.
The company highlighted that it boasts over 1,000 active communities in the sports category, with a substantial surge in interest within these forums. In the past year, views on sports-related forums on the platform saw a 26% increase.
The sports marketing sector is projected to grow by over 20%, reaching a market value exceeding $55 billion by 2030, as fans increasingly consume sports content via platforms like YouTube, Facebook, and X (formerly Twitter).
Since preparing for its public offering, Reddit has been exploring new revenue avenues, recently signing a $60 million annual AI licensing deal with Google. Following the announcement of the sports partnerships, Reddit’s shares rose nearly 7% on Monday, reflecting investor optimism.
Key figures include:
– 1,000 active sports-related communities on Reddit
– 20.4 billion views of sports-related content on Reddit over the past year
– 249 million monthly engagements in global sports subreddits
– Estimated market value of the sports marketing industry by 2030: $55 billion
– Reddit’s first-quarter revenue: $243 million