Reddit is making a significant move into the sports marketing arena with a series of new partnerships announced on Monday. The social media platform has allied itself with several major sports leagues, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will gain access to various engaging content, including video highlights from games and tournaments, player “Ask Me Anything” (AMA) sessions, behind-the-scenes footage, and other special content shared by the leagues throughout their seasons and notable events.
The platform reports a thriving interest in its sports-related communities, boasting over 1,000 active forums in this category. In the past year, screen views in these sports forums surged by 26%.
The sports marketing sector is predicted to experience substantial growth, expected to increase by over 20% to reach a value of more than $55 billion by 2030. Fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports-related content.
In its efforts to strengthen revenue streams ahead of a potential IPO, Reddit secured a $60 million-per-year AI licensing agreement with Google in February. Following the news of the sports partnerships, Reddit’s shares saw a nearly 7% increase on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion screen views of sports-related content over the past year
– 249 million monthly engagements in sports subreddits worldwide
– An estimated $55 billion value for the sports marketing sector by 2030
– $243 million in Reddit’s first-quarter revenue