Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform revealed new partnerships with major sports organizations, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and NASCAR.
Users on Reddit will have access to a range of exclusive content, such as video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes videos, and other special features shared by these leagues throughout their respective seasons and events.
The platform has reported over 1,000 active communities within the sports category, with engagement in these forums experiencing a notable rise; screenviews in sports-related threads surged by 26% in the past year.
The sports marketing sector is anticipated to grow by over 20%, reaching an estimated value of more than $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In an effort to enhance its revenue streams ahead of a potential public offering, Reddit previously entered into a $60 million annual AI licensing agreement with Google in February. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7%.
Key statistics include:
– 1,000: Total number of sports-related Reddit forums
– 20.4 billion: Screenviews in sports-related Reddit forums over the past year
– 249 million: Monthly engagements (posts, votes, comments) in global sports subreddits
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue in the first quarter.