Reddit is making a significant move into the sports marketing arena, announcing several new partnerships with leading sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Starting Monday, Reddit users will have the opportunity to access exclusive video highlights from various games and tournaments, engage in player AMAs (ask me anything sessions), and view behind-the-scenes content and other special features shared by the leagues during their seasons and major events.
The platform has reported over 1,000 active communities dedicated to sports, with engagement in these forums surging significantly. Reddit indicated that screenviews for sports-related discussions have risen by 26% in the past year.
The sports marketing industry is expected to grow by over 20%, reaching a value of more than $55 billion by 2030, with fans increasingly engaging with sports content through platforms like YouTube, Facebook, and X (formerly Twitter).
In its efforts to boost revenue ahead of a potential public offering, Reddit previously secured a $60 million-per-year AI licensing deal with Google in February. Following the announcement of the new sports partnerships, Reddit’s shares saw a nearly 7% increase on Monday.
Key statistics include:
– 1,000: Number of sports-related communities on Reddit
– 20.4 billion: Screenviews of sports-related forums in the past year
– 249 million: Monthly engagements (including posts, votes, and comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing industry by 2030
– $243 million: Reddit’s revenue for the first quarter.