Reddit is making a significant move into the sports marketing arena. The platform announced on Monday that it has formed partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these partnerships, Reddit users will have access to a variety of content, including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and exclusive content from the leagues throughout their seasons and significant events.
The platform boasts over 1,000 active communities focused on sports, which have seen a surge in interest. Screenviews on these sports-related forums climbed by 26% over the past year, according to Reddit.
The sports marketing industry is projected to grow by over 20% and exceed $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been actively seeking new revenue streams in preparation for its anticipated public offering. Earlier this year, it secured a $60 million-per-year AI licensing agreement with Google. Following a successful initial public offering, the company announced first-quarter revenues nearly 50% higher than the previous year. Reddit’s shares experienced a nearly 7% rise on Monday after the announcement of the new sports partnerships.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s first-quarter revenue