Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform announced several new partnerships with prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to video highlights from games, player “Ask Me Anything” sessions, behind-the-scenes videos, and other exclusive content shared by the leagues throughout their seasons and major events.
The company highlighted that it has over 1,000 active sports communities, with a significant increase in interest. Screenviews in these sports-related forums soared by 26% over the past year.
The sports marketing industry is projected to grow by over 20% to exceed a value of $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In efforts to boost its revenues ahead of a public offering, Reddit recently secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of the sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter