Reddit is making significant strides into the flourishing sports marketing industry. The social media platform revealed on Monday that it has established partnerships with 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 range of exclusive content, such as video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes videos, and other special materials shared by the leagues throughout their seasons and major events.
The platform boasts over 1,000 active communities focused on sports, with user engagement in these areas witnessing a notable surge. Reports indicate a 26% increase in screenviews of sports-related forums over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a value exceeding $55 billion by 2030. Fans are increasingly turning to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
In pursuit of new revenue streams ahead of its anticipated public offering, Reddit had previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of the new sports partnerships, Reddit shares experienced a nearly 7% increase on Monday.
By the numbers:
– 1,000: Active sports-related Reddit forums
– 20.4 billion: Screenviews of sports-related forums on Reddit over the past year
– 249 million: Monthly engagements (posts, votes, comments) in sports subreddits worldwide
– $55 billion: Projected value of the sports marketing sector by 2030
– $243 million: Reddit’s revenue for the first quarter.