Reddit is making a strong entrance into the sports marketing industry.
On Monday, the platform unveiled several new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and other exclusive content shared by the leagues during their seasons and significant events.
The company highlighted that it boasts over 1,000 active sports-related communities, with a significant rise in interest. Screenviews in these forums reportedly surged by 26% in the past year.
The sports marketing field is projected to grow by more than 20%, reaching a valuation of over $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
Looking to bolster its revenue ahead of a potential public offering, Reddit previously entered into a $60 million-per-year AI licensing agreement with Google in February. Following a successful IPO, the company announced first-quarter revenues that were close to 50% higher than the previous year. In response to the new sports partnerships, Reddit shares rose nearly 7% on Monday.
Key statistics include:
1,000: Number of sports-related forums on Reddit
20.4 billion: Screenviews of sports forums over the last year
249 million: Monthly engagements (posts, votes, comments) across sports subreddits globally
$55 billion: Projected value of the sports marketing sector by 2030
$243 million: Reddit’s first-quarter revenue