Reddit is making a significant move into the growing sports marketing industry. On Monday, the social media platform revealed new partnerships with several prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These collaborations will provide Reddit users with access to game and tournament video highlights, player AMA (ask me anything) sessions, behind-the-scenes footage, and other special content throughout the seasons and major events organized by these leagues.
According to Reddit, the platform hosts over 1,000 active communities in the sports category, with user engagement in these forums increasing significantly. The company noted a 26% rise in screenviews on sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to enhance its revenue as it prepares for a public offering, Reddit previously established a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of these new sports partnerships, Reddit’s shares experienced a nearly 7% increase on Monday, reflecting positive market sentiment.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of these forums over the past year
– 249 million monthly engagements (including posts, votes, and comments) in sports subreddits globally
– $55 billion projected value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue