Reddit is making a significant move into the sports marketing industry. On Monday, the social media platform announced new partnerships with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
With these partnerships, Reddit users will gain access to a variety of content, including video highlights from games and tournaments, interactive Q&A sessions with players, behind-the-scenes videos, and exclusive material shared by the leagues throughout the season and important events.
Reddit has reported having over 1,000 active communities dedicated to sports, with significant growth in engagement. The platform noted that screenviews on sports forums have surged by 26% in the past year.
The sports marketing industry is projected to grow more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to bolster revenue ahead of its expected IPO, Reddit recently secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7%.
Noteworthy statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter