Reddit is adding more sports content to the platform with its latest deal with some of the biggest leagues. The social media giant has struck deals with NFL, NBA, MLB, PGA TOUR, and NASCAR to bring more content from each league and increase revenue from advertisers.
According to Reddit, with +26% YOY growth, the site has over 1000 sports communities, one of its fastest-growing and most popular groups. With this new partnership, Reddit looks to use its engaged users in those communities to drive advertisers to content such as video ads, AMAs, behind-the-scenes videos, highlights from games and tournaments, and other formats.
“Reddit is the go-to destination for sports fans around the world because it’s the place where they can dive deeper than anywhere else, and connect with other fans beyond the season and throughout the year,” said Reddit’s Chief Operating Officer, Jen Wong. “The country’s major sports leagues see the opportunity to reach global audiences on Reddit. We’re continuing to build more ways for businesses and organizations to engage with Reddit’s communities; this benefits our communities, program partners, and advertisers.”
The popularity of live sports has been a key figure for many in the media industry. Unlike scripted or reality TV, the can’t-miss nature of live sports is something that makes many still watch in real-time and is valuable to have in the portfolio for many media networks and social media channels.
This has been a busy year for Reddit, with the company striking a deal earlier this year with Google to help improve the search engine’s AI. With over 500 million accounts, Reddit is one of the largest social media platforms and as the company keeps striking new deals, its shares keep increasing. Back in May, the company announced a revenue increase of $243 million (48%) during the first quarter with 82.7 million active users.