Reddit is making a significant move into the sports marketing industry.
On Monday, the platform announced new collaborations with several major sports leagues, 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 have access to a range of content including game and tournament video highlights, player “ask me anything” (AMA) sessions, behind-the-scenes videos, and other exclusive materials from these leagues during the seasons and major events.
Reddit noted it has over 1,000 active communities dedicated to sports, with a substantial rise in interest within these forums. The site reported that screenviews for sports-related discussions increased by 26% over the past year.
The sports marketing sector is projected to grow over 20% to exceed $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 in anticipation of an upcoming public offering, Reddit recently secured a licensing deal worth $60 million per year with Google. After a successful initial public offering, the company announced first-quarter revenues that were nearly 50% higher than the previous year. Following the announcement of the new sports partnerships, Reddit shares rose nearly 7% on Monday.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of these forums over the last year
– 249 million monthly engagements in sports subreddits worldwide
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.