Reddit is making a significant move into the sports marketing arena, as the platform revealed on Monday new partnerships with several prominent sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of this initiative, Reddit users will have access to an array of content, including video highlights from games and tournaments, AMA sessions with players, behind-the-scenes footage, and other exclusive materials shared by the leagues throughout their seasons and major events.
The platform boasts over 1,000 active communities focused on sports, and engagement in these forums has surged, with screenviews for sports-related topics rising by 26% in the past year.
The sports marketing industry is projected to expand by more than 20%, reaching an estimated value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In preparation for its public offering, Reddit has been exploring new revenue streams. Earlier this year, it secured a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit saw its shares rise by nearly 7% on Monday.
Key statistics include:
– 1,000: Active sports-related forums on Reddit
– 20.4 billion: Total screenviews of sports forums over the past year
– 249 million: Monthly user engagements (posts, comments, votes) in sports subreddits globally
– $55 billion: Anticipated market value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter of the year