Reddit is making significant strides in the sports marketing industry, announcing new partnerships with several prominent sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will have access to a variety of content, including video highlights from games, player Q&A sessions, behind-the-scenes videos, and other exclusive material shared by the leagues during their seasons and major events.
The platform noted that it hosts over 1,000 active communities focused on sports, and engagement within these forums has surged, with screenviews increasing by 26% over the past year.
The sports marketing sector is projected to see substantial growth, expected to exceed $55 billion by 2030. Fans are primarily seeking out sports content on platforms like YouTube, Facebook, and X (formerly known as Twitter).
To further bolster its revenue, Reddit has been exploring new funding opportunities, including a $60 million-per-year AI licensing agreement with Google made earlier this year. Following a successful initial public offering (IPO), the company reported first-quarter revenues nearly 50% higher than the previous year, with its shares rising nearly 7% after the announcement of the new sports partnerships.
Key statistics reveal that there are 1,000 sports-related forums on Reddit, with a total of 20.4 billion screenviews in the past year. Monthly engagements in the sports subreddits globally reached 249 million, while Reddit’s first-quarter revenue totaled $243 million.