Reddit is making a significant move into the sports marketing realm. On Monday, the platform announced new partnerships 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 these partnerships, Reddit users will have access to an array of content including video highlights from games, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and exclusive materials from the leagues throughout the season and major events.
Reddit boasts over 1,000 active communities dedicated to sports, with a marked increase in engagement in these forums. The site reported that screenviews of sports-related forums surged by 26% in the past year.
The sports marketing industry is projected to grow by more than 20%, reaching over $55 billion by 2030, with fans increasingly turning to social media platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of these new sports partnerships, Reddit shares climbed nearly 7% on Monday.
Key statistics include:
– 1,000 active sports-related Reddit communities
– 20.4 billion screenviews of sports-related 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: Reddit’s revenue in the first quarter.