Reddit is making significant strides into the sports marketing industry.
On Monday, the popular social media platform announced a series of 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 these partnerships, Reddit users will have access to a variety of exclusive content, including game highlights, player AMAs (ask me anything sessions), behind-the-scenes videos, and other special materials shared by the leagues during their seasons and major events.
According to Reddit, the platform boasts over 1,000 active communities dedicated to sports, with a notable rise in engagement. The site reported a 26% increase in screenviews for sports-related forums in the past year.
The sports marketing sector is projected to experience robust growth, increasing by more than 20% to surpass $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest for revenue, Reddit has been exploring various initiatives, including a $60 million-per-year AI licensing agreement with Google earlier this year. Following a successful initial public offering, the company reported first-quarter revenues nearly 50% higher than the previous year. Reddit’s stock rose nearly 7% on Monday following the announcement of its new sports partnerships.
Key statistics include:
1,000: The number of sports-related forums on Reddit.
20.4 billion: The total screenviews of these sports forums over the past year.
249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide.
$55 billion: The projected value of the sports marketing sector by 2030.
$243 million: Reddit’s reported revenue for the first quarter.