Reddit is making a significant move into the sports marketing arena with the announcement of several partnerships with top sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Users of Reddit can expect to see video highlights from games and tournaments, live Q&A sessions with players, behind-the-scenes content, and other exclusive material shared by the leagues during their seasons and major events.
The platform highlights that there are over 1,000 active sports communities on its site, and engagement in these forums has notably increased, with a reported 26% rise in screenviews related to sports content over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In light of its plans to go public, Reddit has been exploring new revenue streams, including a $60 million-per-year AI licensing agreement with Google established in February. Following these new sports partnerships, Reddit’s shares climbed nearly 7% on Monday, reflecting investor optimism.
Key statistics include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screenviews of sports content over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– Projected $55 billion value of the sports marketing sector by 2030
– $243 million reported in Reddit’s first-quarter revenue.