Reddit is making a significant entry into the enticing world of sports marketing.
On Monday, the platform unveiled a series of new partnerships with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
With these collaborations, Reddit users will gain access to an array of content such as video highlights from games and tournaments, player Q&A sessions (referred to as AMAs), behind-the-scenes footage, and other exclusive material shared by the leagues throughout their seasons and major events.
The platform noted that it boasts over 1,000 active sports-related communities, with a notable surge in engagement. In the past year, screenviews on sports-related forums have grown by 26%.
The sports marketing industry is projected to expand by more than 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly Twitter).
Reddit has been exploring innovative approaches to boost its revenue in preparation for an eventual public offering. Earlier this year, the company entered into a $60 million annual AI licensing agreement with Google. Following a successful IPO, Reddit reported first-quarter revenues that were nearly 50% higher compared to the previous year, and the announcement of the new sports partnerships led to a nearly 7% increase in Reddit shares on Monday.
Key Statistics:
1,000: Total sports-related Reddit forums
20.4 billion: Screenviews of sports-related forums 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 in the first quarter