Reddit is making a significant move into the sports marketing industry. The platform announced new collaborations with prominent sports leagues including the NFL, NBA, MLB, PGA Tour, and NASCAR.
Under these partnerships, Reddit users will have access to a variety of content, such as video highlights from games, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and exclusive material shared by the leagues during their respective seasons and major events.
The social media platform reports having over 1,000 active communities focused on sports, and engagement in these forums has surged. Specifically, screenviews on sports-related discussions have grown by 26% in the past year.
The sports marketing sector is anticipated to expand by over 20%, reaching a valuation of more than $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) to explore sports content.
In its pursuit of new revenue streams ahead of a potential public offering, Reddit previously entered a $60 million-per-year AI licensing agreement with Google in February. Following the announcement of its sports partnerships, Reddit shares experienced a nearly 7% increase on Monday.
Key statistics include:
– 1,000 active sports-related Reddit forums
– 20.4 billion total screenviews of these forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion estimated value of the sports marketing sector by 2030
– $243 million reported revenue for Reddit in the first quarter.