Reddit is making a significant move into the sports marketing industry. On Monday, the platform unveiled partnerships with several prominent sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
These collaborations will allow Reddit users to access various exclusive content, such as game and tournament video highlights, player “ask me anything” sessions, behind-the-scenes footage, and other special material shared by the leagues during their seasons and major events.
Reddit reported having over 1,000 active sports-related communities, with notable growth in user engagement. The platform saw a 26% increase in screenviews on sports forums in the past year.
The sports marketing sector is expected to grow by over 20% to exceed $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
Reddit has been exploring new revenue streams as it prepares for a potential public offering, including a recent $60 million annual AI licensing agreement with Google. Following the announcement of its sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000 sports-focused Reddit forums
– 20.4 billion screenviews of these forums over the past year
– 249 million monthly engagements (including posts, votes, and comments) in sports subreddits globally
– $55 billion projected value of the sports marketing industry by 2030
– $243 million reported revenue for Reddit in the first quarter.