Reddit is actively entering the sports marketing arena with a series of new collaborations involving leading sports leagues. On Monday, the social media platform revealed partnerships with several major organizations, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to game highlights, player AMA sessions, behind-the-scenes content, and special posts from these leagues throughout their seasons and major events.
Reddit noted that there are over 1,000 active sports-related communities on its platform, with a significant rise in engagement. Screenviews on sports forums surged by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a market value exceeding $55 billion by 2030, with fans primarily engaging with sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its quest to bolster revenue, Reddit has been exploring new avenues since it began preparations for an initial public offering (IPO). Earlier this year, it finalized a $60 million annual AI licensing deal with Google. Following the announcement of the new sports partnerships, Reddit saw its shares rise nearly 7%.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews on sports-related forums in the past year
– 249 million monthly engagements in sports subreddits globally
– $55 billion estimated market value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue