Reddit is making a significant move into the sports marketing industry with new partnerships announced on Monday involving prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to various types of content, including game highlights, player AMAs (ask me anything sessions), behind-the-scenes videos, and other exclusive materials from the leagues throughout the seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, and engagement within these forums has surged, with a reported 26% increase in screenviews over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Reddit has been exploring new revenue streams as it prepares for an initial public offering (IPO). Earlier this year, it secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of the new partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of these forums in the past year
– 249 million monthly engagements in sports subreddits globally
– $55 billion estimation for the sports marketing sector by 2030
– $243 million in first-quarter revenue for Reddit.