Reddit is making a significant move into the sports marketing industry with the announcement of new partnerships with major sports leagues including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
The platform will provide its users with access to game and tournament video highlights, interactive player Q&A sessions, behind-the-scenes footage, and exclusive content from the leagues during their respective seasons and key events.
With over 1,000 active sports communities on the site, Reddit has seen a surge in interest within these forums, reporting a 26% increase in screenviews for sports-related content over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports information.
In an effort to bolster its revenue as it prepares for an IPO, Reddit secured a $60 million yearly AI licensing agreement with Google in February. Following the announcement of these new sports partnerships, Reddit’s shares rose nearly 7%.
In terms of user engagement, there are approximately 1,000 sports-related forums on Reddit, with 20.4 billion screenviews in the past year and 249 million monthly interactions across global sports subreddits. Reddit reported a first-quarter revenue of $243 million, reflecting a nearly 50% increase from the previous year.