Reddit is making a significant move into the thriving sports marketing industry. On Monday, the social media platform unveiled a series of partnerships 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 various engaging content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), exclusive behind-the-scenes videos, and additional special content from the leagues during their seasons and major events.
Reddit boasts over 1,000 active communities centered around sports, and interest in these forums has surged. The platform reported a 26% increase in screenviews on sports-related forums over the past year.
The sports marketing domain is projected to grow by more than 20%, reaching over $55 billion by 2030. Fans mainly rely on platforms like YouTube, Facebook, and X (formerly Twitter) to explore sports content.
As Reddit prepares for a potential public offering, it has been seeking new revenue streams. In February, the company secured a $60 million-per-year AI licensing agreement with Google. After a successful IPO, Reddit reported first-quarter revenues that were nearly 50% higher than the previous year. Following the announcement of the new sports partnerships, Reddit shares rose nearly 7% on Monday.
Key figures to note include:
– 1,000: The number of sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums by Reddit users 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