Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform announced a series of partnerships with 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 collaborations, Reddit users will gain access to a variety of engaging content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and exclusive material shared by the leagues during their seasons and major events.
Reddit has reported that it boasts over 1,000 active communities focused on sports, with a notable increase in interest in these forums. The platform observed a 26% rise in screenviews for sports-related discussions over the past year.
The sports marketing sector is projected to expand by more than 20%, reaching a valuation exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to boost revenue ahead of a potential initial public offering (IPO), Reddit previously entered a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit shares rose nearly 7%.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews of sports-related content in the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits globally
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue