Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday. The social media platform has joined forces with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to an array of exclusive content, including video highlights from games and tournaments, player ask-me-anything (AMA) sessions, behind-the-scenes footage, and various other special features shared by the leagues during their seasons and major events.
Reddit has highlighted that it currently hosts over 1,000 active communities dedicated to sports, with a marked increase in user engagement within these forums. Screenviews for sports-related discussions on the site rose by 26% over the last year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030. Fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In light of preparations for its public offering, Reddit has been exploring new revenue streams, including a $60 million annual AI licensing agreement with Google announced in February. Following the successful launch of its IPO, Reddit reported first-quarter revenues nearly 50% higher than the previous year. The announcement of new sports partnerships contributed to a nearly 7% increase in Reddit’s share price on Monday.
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
– $55 billion projected value of the sports marketing industry by 2030
– $243 million in Reddit’s first-quarter revenue.