Reddit is making a significant move into the sports marketing sector by announcing several new partnerships with prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have access to a variety of content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and special content shared by the leagues during their seasons and major events.
The platform reported that it hosts over 1,000 active communities dedicated to sports, and interest in these forums has surged. Screenviews on sports-related subreddits have increased by 26% in the past year.
Experts predict that the sports marketing industry will grow by more than 20%, reaching a value exceeding $55 billion by 2030. Fans currently tend to seek out sports content primarily on platforms like YouTube, Facebook, and X (formerly Twitter).
To boost its revenue as it prepares for a public offering, Reddit previously secured a $60 million-per-year AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7% on Monday.
Key statistics include:
– 1,000: The number of sports-related forums on Reddit
– 20.4 billion: Total screenviews on sports-related forums in the last year
– 249 million: Monthly interactions (posts, votes, comments) in global sports subreddits
– $55 billion: Expected valuation of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter of the year.