Reddit is making a significant move into the sports marketing arena with several new partnerships. The social media platform recently announced collaborations with major sports organizations including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will be able to access a variety of exclusive content, including video highlights from games and tournaments, player “Ask Me Anything” (AMA) sessions, behind-the-scenes videos, and special updates from these leagues throughout their respective seasons and major events.
The platform has reported that it hosts over 1,000 active communities related to sports, and engagement in these forums has surged, with a 26% increase in screenviews over the past year. This trend reflects a broader growth in the sports marketing industry, which is projected to swell over 20%, potentially reaching a value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly known as Twitter) for sports-related content.
In an effort to bolster its revenue as it prepares for a public offering, Reddit recently signed a deal worth $60 million per year for AI licensing with Google. Following an Initial Public Offering (IPO), the company reported a 50% rise in first-quarter revenues compared to the prior year. Reddit’s stock saw an increase of nearly 7% on the day the new sports partnerships were revealed.
Key figures include:
1,000 sports-related Reddit forums
20.4 billion screenviews of these forums over the past year
249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
$55 billion projected market value of the sports marketing sector by 2030
$243 million in Reddit’s first-quarter revenue