Reddit is making a significant move into the sports marketing arena with a series of new partnerships. The social media platform announced on Monday collaborations with several major sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Under these partnerships, Reddit users will gain access to a variety of exclusive content, such as video highlights from games and tournaments, player “Ask Me Anything” (AMA) sessions, behind-the-scenes videos, and more during the leagues’ seasons and major events.
Reddit has reported that it now hosts over 1,000 active communities dedicated to sports, with heightened engagement in these forums. In the past year, screenviews for sports-related content on the platform have surged by 26%.
The sports marketing industry is projected to grow by more than 20%, reaching over $55 billion by 2030, with fans increasingly seeking sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to generate revenue ahead of a potential IPO, Reddit previously entered into a $60 million-per-year AI licensing deal with Google. Following the announcement of the new sports partnerships, Reddit’s shares rose nearly 7% on Monday, reflecting optimism about its growth prospects.
Key statistics include:
– 1,000 sports-related forums on Reddit
– 20.4 billion screenviews of sports forums over the past year
– 249 million global monthly engagements (posts, votes, comments) in sports subreddits
– An estimated $55 billion market value for the sports marketing sector by 2030
– Reddit’s first-quarter revenue of $243 million.