Reddit is making significant strides into the sports marketing arena.
On Monday, the social media platform revealed 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.
These partnerships will grant Reddit users access to a variety of content, such as video highlights from games and tournaments, player AMAs (ask me anything sessions), behind-the-scenes footage, and exclusive materials shared by the leagues throughout their seasons and major events.
Reddit highlighted that it hosts over 1,000 active communities focused on sports, with a noticeable surge in user engagement. The platform reported a 26% increase in screenviews on sports-related forums within the past year.
The sports marketing sector is projected to grow by over 20% and surpass a valuation of $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In light of its preparations for an initial public offering (IPO), Reddit has been exploring new revenue avenues. Earlier this year, it secured a $60 million annual AI licensing agreement with Google. Following a successful IPO, Reddit announced first-quarter revenues that were nearly 50% higher than the previous year. The company’s shares saw an increase of nearly 7% on Monday following the announcement of its new sports partnerships.
Key figures include:
1,000: Sports-related forums on Reddit
20.4 billion: Screenviews in sports-related forums over the past year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits globally
$55 billion: Estimated value of the sports marketing industry by 2030
$243 million: Reddit’s revenue for the first quarter