Reddit is making a significant move into the sports marketing arena with new partnerships announced on Monday with several major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR.
As part of these collaborations, Reddit users will gain access to a variety of engaging content such as video highlights from games and tournaments, “Ask Me Anything” (AMA) sessions with players, behind-the-scenes footage, and exclusive materials shared by the leagues during their seasons and key events.
Reddit has reported over 1,000 active communities focused on sports, with a noticeable increase in interest. The platform saw a 26% rise in screenviews on sports-related forums over the past year.
The sports marketing industry is forecasted to grow by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to digital platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its pursuit of new revenue streams ahead of a potential public offering, Reddit previously secured a $60 million annual AI licensing agreement with Google. Following the announcement of its new sports partnerships, Reddit’s shares rose nearly 7% on Monday.
Key statistics include:
– 1,000 sports-related Reddit forums
– 20.4 billion screenviews in these forums over the last year
– 249 million monthly engagements in sports subreddits globally
– Estimated $55 billion value of the sports marketing sector by 2030
– $243 million in revenue reported by Reddit for the first quarter.