Reddit is making a significant move into the sports marketing industry, as it announced multiple 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 sports content, including video highlights from games and tournaments, player Q&A sessions, behind-the-scenes videos, and exclusive material shared by the leagues during their seasons and major events.
The platform boasts over 1,000 active communities in sports-related categories, and engagement has noticeably surged. Reddit reported a 26% increase in screenviews within these sports forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030. Fans often seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In its pursuit of revenue growth ahead of a potential public offering, Reddit has explored various strategies, including a $60 million-per-year AI licensing agreement with Google earlier this year. Following the announcement of the new sports partnerships, Reddit shares experienced a nearly 7% rise on Monday.
Here are some noteworthy statistics:
1,000: Active sports-related forums on Reddit
20.4 billion: Screenviews in sports forums over the past year
249 million: Monthly engagements in sports subreddits worldwide
$55 billion: Estimated value of the sports marketing sector by 2030
$243 million: Reddit’s revenue for the first quarter of the year