Reddit is making a significant move into the sports marketing arena.
On Monday, the social media platform announced new partnerships with several major 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 gain access to a variety of exclusive content, such as video highlights from games and tournaments, player Q&A sessions, behind-the-scenes videos, and other special materials from the leagues throughout their seasons and major events.
Reddit has reported that it hosts over 1,000 active communities focused on sports topics, with a notable increase in interest. Screenviews of sports-related forums have risen by 26% in the last year.
The sports marketing industry is projected to grow by more than 20%, reaching an estimated value of over $55 billion by 2030, with fans typically seeking sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
In pursuit of new revenue streams before going public, Reddit struck a $60 million annual AI licensing agreement with Google in February. Following a successful IPO, the company reported a first-quarter revenue increase of nearly 50% compared to the previous year. The announcement of the new sports partnerships led to a nearly 7% rise in Reddit shares on Monday.
Key statistics include:
1,000 active sports-related Reddit forums, 20.4 billion screenviews for these forums over the past year, 249 million monthly engagements in sports subreddits worldwide, an estimated $55 billion value for the sports marketing sector by 2030, and $243 million in Reddit’s first-quarter revenue.