Reddit is making a significant move into the sports marketing industry, announcing a series of new collaborations with major sports leagues on Monday. The company has partnered with the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR, marking its entry into this lucrative sector.
As part of these partnerships, Reddit users will have access to exclusive content, including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and other special features released by the leagues throughout their seasons and major events.
Reddit has highlighted the growing popularity of its sports-related communities, noting that there are over 1,000 active forums dedicated to sports. Engagement in these forums has seen a significant uptick, with a reported 26% increase in screenviews over the past year.
The sports marketing industry 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.
In its effort to boost revenue ahead of a potential public offering, Reddit recently completed a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7% on Monday. In its first quarter, the company reported revenues that were almost 50% higher than the previous year.
Key statistics include:
– 1,000: The number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related Reddit forums over the last 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