Reddit is making a significant move into the sports marketing industry.
On Monday, the social media platform revealed new partnerships with major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
Users on Reddit will now have access to game and tournament video highlights, player AMA sessions (Ask Me Anything), behind-the-scenes content, and other exclusive materials shared by the leagues during their respective seasons and major events.
The platform reports having over 1,000 active sports communities, experiencing a substantial surge in engagement. In the past year, screen views of sports-related discussions on Reddit rose by 26%.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, with fans primarily relying on platforms like YouTube, Facebook, and X (formerly Twitter) to explore sports content.
Reddit has been exploring new revenue streams as it prepares for an initial public offering. Earlier this year, the company secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of the new sports partnerships, Reddit shares rose nearly 7%.
Key Statistics:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screen views of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports-related subreddits globally
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter.