Reddit is making a significant move into the sports marketing industry by announcing new partnerships with top sports leagues. On Monday, the social media platform revealed collaborations with the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
Through these partnerships, Reddit users will gain access to a variety of exclusive content, including video highlights from games and tournaments, player Q&A sessions, behind-the-scenes footage, and other special material throughout the sports seasons and major events.
The platform boasts over 1,000 active sports-related communities, which have seen heightened engagement. In the past year, screenviews in sports discussions on Reddit surged by 26%.
The sports marketing industry is projected to grow by more than 20%, reaching a valuation of over $55 billion by 2030, as fans increasingly seek sports content on platforms like YouTube, Facebook, and X (formerly known as Twitter).
In its efforts to enhance revenue prior to its anticipated public offering, Reddit recently secured a $60 million-per-year AI licensing deal with Google. Following the announcement of the new sports partnerships, Reddit’s shares experienced a nearly 7% increase on Monday.
Key figures include:
– 1,000 active sports-related forums on Reddit
– 20.4 billion screenviews on sports forums over the past year
– 249 million monthly engagements (posts, votes, comments) in sports subreddits worldwide
– An estimated $55 billion sports marketing sector value by 2030
– $243 million in Reddit’s revenue for the first quarter