Reddit is making a bold move into the thriving sports marketing arena. The social media platform announced on Monday a series of new partnerships with some of the biggest names in sports: 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 enjoy access to a variety of content, including game and tournament highlights, player interactive sessions (known as AMAs, or ask me anything), behind-the-scenes videos, and exclusive updates from the leagues during their seasons and major events.
Reddit boasts over 1,000 active communities dedicated to sports, and interest in these forums has surged. The platform reported a 26% increase in screenviews for sports-related discussions in the past year.
The sports marketing industry is projected to grow over 20% to exceed $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In a bid to enhance its revenue as it prepares for a public offering, Reddit has already secured a $60 million annual AI licensing agreement with Google earlier this year. Following the announcement of these new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Here are some key statistics:
– 1,000: Number of sports-related Reddit forums
– 20.4 billion: Total screenviews in sports-related Reddit forums over the past 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 of the year