Reddit is making a significant move into the lucrative sports marketing arena.
On Monday, the social media platform announced multiple new partnerships with major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR (National Association for Stock Car Auto Racing).
As part of these partnerships, Reddit users will have access to video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes content, and other exclusive materials shared by the leagues during their seasons and major events.
Reddit reported having over 1,000 active communities focused on sports, with engagement in these forums rising significantly. The platform noted a 26% increase in screenviews on sports-related forums 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 rely on platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its pursuit of new revenue streams ahead of a potential public offering, Reddit had previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of these sports partnerships, Reddit shares rose nearly 7% on Monday.
Key statistics include:
– Number of sports-related Reddit forums: 1,000
– Redditors’ screenviews of sports-related forums in the past year: 20.4 billion
– Monthly engagements (posts, votes, comments) in global sports subreddits: 249 million
– Estimated value of the sports marketing sector by 2030: $55 billion
– Reddit’s first-quarter revenue: $243 million