Reddit is making a significant move into the sports marketing arena.
The social media platform revealed multiple new partnerships on Monday with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
These collaborations will allow Reddit users to access a variety of exclusive content, including video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and other special offerings posted by the leagues throughout their respective seasons and major events.
Reddit noted that it has over 1,000 active sports-related communities, and user engagement within these forums has surged. The platform reported a 26% increase in screenviews of sports-related discussions over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value of over $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a potential public offering, Reddit previously entered a $60 million annual AI licensing agreement with Google in February. Following a successful IPO, the company announced first-quarter revenues that were almost 50% higher than the prior year. The news of the new sports partnerships also led to a nearly 7% increase in Reddit’s stock price on Monday.
Key statistics include:
– 1,000: Number of sports-focused Reddit forums
– 20.4 billion: Total screenviews of sports-related forums over the past year
– 249 million: Monthly interactions (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated worth of the sports marketing industry by 2030
– $243 million: Reddit’s first-quarter revenue