Reddit is making a significant move into the sports marketing industry, announcing new partnerships with major sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to an array of engaging content, such as video highlights from games, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and various exclusive materials from the leagues during their seasons and significant events.
The platform currently boasts over 1,000 active communities centered on sports, and interest in these forums has surged. Reddit reported a 26% increase in screenviews on 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 Twitter) for sports content.
As Reddit prepares for its public offering, it has been exploring new revenue streams, including a $60 million-per-year AI licensing agreement with Google established in February. Following the announcement of these sports partnerships, Reddit’s shares rose by nearly 7%.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews of sports-related forums in the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– Estimated value of the sports marketing sector to reach $55 billion by 2030
– Reddit’s reported first-quarter revenue of $243 million