Reddit is making a significant move into the sports marketing industry with new partnerships announced on Monday. The social media platform has teamed up 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 this initiative, Reddit users will have access to a variety of exclusive content, including video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes videos, and other special features shared by the leagues during their seasons and major events.
Reddit reported that it has over 1,000 active sports communities, with a notable increase in engagement. The platform saw a 26% rise in screenviews for sports-related forums over the past year.
The sports marketing sector is expected to grow significantly, projected to surpass $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to boost its revenue as it prepares for a public offering, Reddit previously signed a $60 million annual AI licensing deal with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Redditors’ screenviews of sports-related forums over the last 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.