Reddit is making a significant move into the sports marketing arena. On Monday, the 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 collaborations, Reddit users will gain access to a variety of content, including game and tournament video highlights, player AMA sessions, behind-the-scenes footage, and other exclusive material shared by the leagues throughout their seasons and significant events.
Reddit reported having over 1,000 active communities focused on sports, with a notable uptick in activity within those forums. The platform indicated that screenviews in sports-related discussions surged by 26% over the past year.
The sports marketing industry is projected to grow more than 20%, reaching a value of over $55 billion by 2030, as fans increasingly flock to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In its quest to bolster revenue ahead of a potential public offering, Reddit has been exploring new strategies. This includes a $60 million yearly AI licensing agreement with Google that was signed in February. Following the announcement of the sports partnerships, Reddit’s shares saw an increase of nearly 7%, coinciding with a first-quarter revenue report that showed nearly a 50% growth year-over-year.
Key statistics include:
– 1,000: Number of sports-focused Reddit forums
– 20.4 billion: Screenviews of sports-related content on Reddit in the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Expected market value of the sports marketing industry by 2030
– $243 million: Reddit’s first-quarter revenue