Reddit is making significant strides into the lucrative sports marketing arena.
On Monday, the social media platform revealed a series of new collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
Through these partnerships, Reddit users will gain access to a variety of content, such as video highlights from games and tournaments, player Ask Me Anything (AMA) sessions, exclusive behind-the-scenes footage, and other specialized content from the leagues throughout the seasons and during major events.
Reddit highlighted that it boasts over 1,000 active communities within the sports category, which has seen a notable surge in interest. The platform reported a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing industry is projected to grow by more than 20%, reaching over $55 billion by 2030, with fans increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for its public offering, it has been exploring new revenue streams. In February, the platform finalized a $60 million-per-year AI licensing agreement with Google. After a positive IPO, Reddit reported first-quarter revenues that were nearly 50% higher than the previous year, and shares rose almost 7% following the announcement of these new sports partnerships.
Key Statistics:
1,000: Number of sports-related forums on Reddit
20.4 billion: Screenviews of sports-related forums over the last year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion: Estimated value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter