Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform unveiled 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.
As part of these partnerships, Reddit users will gain access to an array of exclusive content such as video highlights from games and tournaments, player “ask me anything” sessions, behind-the-scenes videos, and other special material shared by the leagues during their seasons and major events.
According to Reddit, the platform hosts over 1,000 active sports communities, and engagement within these forums has surged. The site reported a 26% increase in screenviews for sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20% and surpass $55 billion in value by 2030, with fans increasingly relying on platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to enhance revenue ahead of a potential public offering, Reddit recently finalized a $60 million-per-year AI licensing agreement with Google. After a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year, leading to a nearly 7% rise in Reddit’s share prices following the announcement of the new sports partnerships.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related Reddit forums in the last year
– 249 million: Monthly engagements within global sports subreddits
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter