Reddit is making significant strides into the sports marketing industry.
On Monday, the social media platform unveiled a series of new collaborations with prominent sports leagues, including the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
In this expansion, Reddit users will gain access to video highlights from games and tournaments, player “Ask Me Anything” sessions, behind-the-scenes content, and other special materials shared by the leagues during their seasons and major events.
The platform boasts over 1,000 active sports communities, and engagement within these forums has surged. Reports indicate that screenviews in sports-related forums increased by 26% over the past year.
The sports marketing sector is projected to grow by more than 20%, reaching a market value exceeding $55 billion by 2030, with fans predominantly relying on platforms like YouTube, Facebook, and X (formerly Twitter) to explore sports content.
Since preparing for a public offering, Reddit has been exploring various revenue-generating strategies. Earlier this year, the company secured a $60 million-per-year AI licensing agreement with Google. Following a successful IPO, Reddit reported first-quarter revenues nearly 50% higher than the previous year. After the announcement of the new sports partnerships, Reddit shares rose by nearly 7% on Monday.
Key figures include:
– 1,000: Number of sports-related Reddit communities
– 20.4 billion: Screenviews in sports-related forums over the past year
– 249 million: Monthly engagements (including posts, votes, comments) in sports subreddits globally
– $55 billion: Estimated market value of the sports marketing sector by 2030
– $243 million: First-quarter revenue for Reddit