Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday. The platform has teamed up with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
These collaborations will allow Reddit users to enjoy an array of exclusive content, such as video highlights from games and tournaments, player Q&A sessions, behind-the-scenes videos, and other special features shared by the leagues during their respective seasons and major events.
According to Reddit, there are over 1,000 active communities focused on sports, and engagement within these forums has surged, with screenviews increasing by 26% over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a valuation of over $55 billion by 2030. Fans are predominantly consuming sports-related content on platforms like YouTube, Facebook, and X (formerly Twitter).
As Reddit prepares for a potential public offering, the company has been exploring innovative revenue streams. Earlier this year, it entered a $60 million-per-year AI licensing agreement with Google. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screenviews of these forums in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.