Reddit is making a significant move into the lucrative sports marketing industry.
On Monday, the social media platform announced new partnerships with prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will benefit from access to game and tournament video highlights, player Ask Me Anything (AMA) sessions, behind-the-scenes videos, and exclusive content shared by the leagues during their seasons and special events.
Reddit reports over 1,000 active communities focusing on sports, with a notable rise in user interest. The platform has indicated a 26% increase in screenviews of sports-related forums over the past year.
The sports marketing industry is projected to grow over 20%, potentially surpassing $55 billion by 2030, with fans currently gravitating towards platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In a push to maximize revenue ahead of its planned public offering, Reddit signed a $60 million-per-year AI licensing agreement with Google in February. Following a successful initial public offering, the company reported first-quarter revenues almost 50% higher than the previous year. Reddit’s stock climbed nearly 7% on Monday after the announcement of the sports partnerships.
Key Statistics:
1,000: Number of sports-related forums on Reddit
20.4 billion: Screenviews by Reddit users of sports-related forums in the past year
249 million: Monthly interactions (posts, votes, comments) in sports subreddits worldwide
$55 billion: Projected market value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter