Reddit is making a significant move into the sports marketing sector with the announcement of new partnerships with major sports leagues. The social media platform has teamed up with 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 have access to video highlights from games and tournaments, player Q&A sessions known as AMAs, behind-the-scenes footage, and exclusive content from the leagues during their seasons and major events.
Reddit reported having over 1,000 active communities dedicated to sports, noting a 26% increase in screen views on sports-related forums in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching over $55 billion by 2030, with fans typically seeking sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
To bolster its revenue as it prepares for a potential public offering, Reddit has pursued various initiatives, including a $60 million per year AI licensing agreement with Google earlier this year. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screen views of sports-related Reddit forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter