Reddit is making significant strides into the sports marketing arena, unveiling multiple new partnerships with major professional sports leagues. The platform revealed collaborations with the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR on Monday.
With these partnerships, Reddit users will have access to a variety of engaging content, including video highlights from games and tournaments, player Q&A sessions, exclusive behind-the-scenes footage, and additional special content shared by the leagues throughout their seasons.
The social media platform boasts over 1,000 active communities centered around sports, with a remarkable 26% increase in screenviews on sports-related forums over the past year.
The sports marketing industry is projected to experience substantial growth, expected to exceed 20% and reach a value of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
Reddit has been exploring new revenue streams as it prepares for a potential public offering. Earlier this year, the company entered into a $60 million annual AI licensing agreement with Google. Following a successful initial public offering, Reddit reported first-quarter revenues that were nearly 50% higher than in the previous year. The announcement of new sports partnerships led to a nearly 7% rise in Reddit shares on Monday.
Key statistics include 1,000 sports-related Reddit forums, 20.4 billion screenviews of these forums in the last year, 249 million monthly engagements in sports subreddits worldwide, an estimated $55 billion value of the sports marketing sector by 2030, and $243 million in Reddit’s first-quarter revenue.