Reddit is making a significant move into the sports marketing arena. On Monday, the social media platform unveiled a series of new 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 this initiative, Reddit users will gain access to a variety of exclusive content, such as video highlights from games and tournaments, player Q&A sessions, behind-the-scenes footage, and other special material shared by the leagues during their seasons and major events.
The platform boasts over 1,000 active sports-related communities, with a notable surge in interest; screenviews in these forums rose by 26% in the past year. The sports marketing sector is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In recent months, Reddit has been exploring new strategies to boost its revenue, especially as it prepares for a potential initial public offering (IPO). Earlier this year, the company secured a $60 million annual AI licensing deal with Google. Following the announcement of the sports partnerships, Reddit’s stock saw a nearly 7% increase.
Key statistics include:
– 1,000: Number of sports-related forums on Reddit
– 20.4 billion: Screenviews of sports-related forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter