Reddit has agreements in place with the NFL, NBA, and MLB, among other major sports leagues, in an attempt to increase revenue after going public.
The agreements, which also include the National Association for Stock Car Auto Racing, Major League Baseball, and the PGA Tour, may enable Reddit to increase its revenue by taking advantage of its devoted readership and star power in sports, the social media site stated in a blog post on Monday.
Users of Reddit will have access to video highlights from matches and competitions, as well as content shared by the leagues and their popular “Ask Me Anything” style.
According to Reddit, there are over 1,000 active sports communities, and there has been a noticeable surge in interest in those discussions.
The social media platform reports that within the past 12 months, screenviews on forums with a sports theme have climbed by 26%.
As per the report in return, Reddit sponsors like Samsung, Ford, Volkswagen, and FanDuel can display their advertising next to league-posted videos.
The participating sports leagues will then get a portion of Reddit’s advertising revenue, as reported by The Information.
“The country’s major sports leagues see the opportunity to reach global audiences on Reddit,” Chief Operating Officer Jen Wong said, adding that the company was continuing to build more ways for organizations to engage with communities on the platform.
Experts noted that Reddit’s stock price surged by almost 4% on Monday following the announcement of a significant collaboration programme involving many sports leagues by the social media company.
We earlier reported that Reddit and OpenAI have partnered to incorporate Reddit’s content into ChatGPT, a popular chatbot.
