Reddit is making a significant move into the sports marketing industry. On Monday, the social media platform unveiled several new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these partnerships, Reddit users will have access to a variety of content, such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and additional exclusive material from the leagues during their seasons and key events.
The platform boasts over 1,000 active communities within the sports category, with notable growth in user engagement. Reddit reported a 26% increase in screenviews of sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value of over $55 billion by 2030, with fans increasingly utilizing platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Since gearing up for a public offering, Reddit has pursued new revenue opportunities, including a $60 million-per-year AI licensing deal with Google earlier this year. Following the announcement of these sports partnerships, Reddit experienced a nearly 7% rise in share prices.
Here are some key figures:
1,000: Number of sports-related Reddit forums
20.4 billion: Screenviews of sports-related forums on Reddit in the past year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s first-quarter revenue