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Reddit is plunging headfirst into the lucrative sports marketing sector.
The social media site on Monday announced a host of new partnerships with major sports leagues — the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), the PGA Tour, and the National Association for Stock Car Auto Racing (NASCAR).
Reddit users will get access to video highlights from games and tournaments, player AMAs (ask me anything sessions, which are basically just Q&A interviews), behind-the-scenes videos, and other special content posted by the leagues throughout their seasons and major events.
Reddit said it has more than 1,000 active communities in the sports category, and interest in those forums has increased a lot. According to the social media site, screenviews on sports-related forums increased 26% over the last 12 months.
The sports marketing space is protected to increase more than 20% to a value of over $55 billion by 2030, with fans primarily turning to YouTube, Facebook, and X (formerly Twitter) to peruse sports-related content.
Reddit has sought new ways to fill its coffers since it started gearing up to go public. It struck a $60 million-per-year AI licensing deal with Google in February. After a successful IPO, the company reported first-quarter revenues that were nearly 50% higher than the year before. Reddit shares jumped nearly 7% on Monday after the new sports partnerships were announced.
By the numbers
1,000: Number of sports-related Reddit forums
20.4 billion: Redditors’ screenviews of sports-related Reddit forums over the last year
249 million: Monthly engagements (posts, votes, comments) in sports subreddits across the globe
$55 billion: Estimated value of the sports marketing sector in six years (2030)
$243 million: Reddit’s first-quarter revenue