Reddit is making a significant move into the sports marketing industry with new partnerships announced on Monday. The social media platform has teamed up 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 partnerships, users will have the opportunity to access video highlights from games and tournaments, engage in player AMAs (ask me anything sessions), view behind-the-scenes videos, and enjoy other special content provided by the leagues throughout their seasons and major events.
Reddit highlighted its extensive sports community, boasting over 1,000 active sports-related forums, which have seen a surge in user interest. Specifically, screenviews on these forums have increased by 26% in the past year.
The sports marketing sector is projected to grow by over 20%, reaching a value exceeding $55 billion by 2030, with fans predominantly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its efforts to bolster revenues ahead of a potential public offering, Reddit secured a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, the company’s shares increased by nearly 7% on Monday.
Key statistics 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
– An estimated $55 billion market value for the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue.