Reddit is making a significant move into the sports marketing arena with the announcement of several new partnerships with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will gain access to a variety of exclusive content, such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and other special material shared by the leagues during their respective seasons and major events.
The platform boasts over 1,000 active communities dedicated to sports, which have seen a notable spike in engagement. According to Reddit, screenviews in sports-related forums increased by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
As Reddit prepares for its initial public offering (IPO), it has been exploring new revenue streams. In February, the company entered into a $60 million annual AI licensing agreement with Google. Following the announcement of its sports partnerships, Reddit shares rose by nearly 7% on Monday.
Key statistics include:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related content over the past 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