Reddit is making a significant move into the sports marketing industry with new partnerships announced on Monday. The social media platform has joined forces with several prominent 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 gain access to a variety of engaging content, including video highlights from games and tournaments, AMA (ask me anything) sessions with players, behind-the-scenes footage, and other exclusive material shared by these leagues during their respective seasons and key events.
The platform has reported more than 1,000 active communities in the sports category, with a notable 26% increase in screenviews for sports-related forums over the past year.
The sports marketing sector is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030, with fans chiefly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In recent efforts to boost its revenue, Reddit has been exploring various monetization options, including a $60 million annual AI licensing agreement with Google established in February. Following the announcement of these new sports partnerships, Reddit’s shares rose nearly 7%, building on a successful first-quarter that saw revenues nearly 50% higher than the previous year.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screenviews on sports forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits globally
– $55 billion projected value of the sports marketing sector by 2030
– $243 million reported revenue for Reddit in the first quarter.