{"id":356248,"date":"2024-07-23T10:43:36","date_gmt":"2024-07-23T09:43:36","guid":{"rendered":"https:\/\/readwrite.com\/?p=356248"},"modified":"2024-07-23T10:43:36","modified_gmt":"2024-07-23T09:43:36","slug":"reddit-shares-climb-on-confirmation-of-sports-partnerships","status":"publish","type":"post","link":"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/","title":{"rendered":"Reddit shares climb on confirmation of sports partnerships"},"content":{"rendered":"<p>Reddit has confirmed an agreement with several sports entities, sending its share price upward by around 4%.<\/p>\n<p>A &#8220;partnership program&#8221; with major league bodies, including the NFL, NBA, MLB, PGA Tour, and NASCAR, will deliver new, exclusive content on its leading platform as a catalyst to increase advertising revenue for the company.<\/p>\n<p><a href=\"https:\/\/www.redditinc.com\/blog\/for-our-fan-communities-a-partnership-program-with-major-sports-leagues\">Reddit believes the link-up<\/a> can take advantage of the crossover between its engaged user base and the passion of sports fans and their insatiable appetite for coverage, with the mega-site already hosting communities devoted to their favorite teams and sports stars.<\/p>\n<p>The collaboration is set to deliver additional coverage such as video highlights, behind-the-scenes access, and other fresh content across the seasons and main events, in the respective sports. The envisaged win-win situation will deliver more consumption for fans while allowing advertisers to utilize Reddit&#8217;s vast audience to showcase their brands.<\/p>\n<p>The San Francisco-based website combines elements of social media, messageboards, and news aggregation, founded in June 2005 by Steve Huffman and Alexis Ohanian. It <span style=\"font-weight: 400;\">received 20.4 billion page views in the sports category over the last 12 months, an increase of 26% on the previous annual period.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, we are excited to share our partnership initiative to boost fan enjoyment on Reddit. We&#39;re teaming up with major sports leagues: <a href=\"https:\/\/twitter.com\/NFL?ref_src=twsrc%5Etfw\">@NFL<\/a> \ud83c\udfc8, <a href=\"https:\/\/twitter.com\/NBA?ref_src=twsrc%5Etfw\">@NBA<\/a> \ud83c\udfc0, <a href=\"https:\/\/twitter.com\/MLB?ref_src=twsrc%5Etfw\">@MLB<\/a> \u26be, <a href=\"https:\/\/twitter.com\/PGATOUR?ref_src=twsrc%5Etfw\">@PGATOUR<\/a> \ud83c\udfcc\ufe0f, and <a href=\"https:\/\/twitter.com\/NASCAR?ref_src=twsrc%5Etfw\">@NASCAR<\/a> \ud83c\udfce\ufe0f to bring more of the content that fans love to Reddit\u2019s communities alongside new\u2026 <a href=\"https:\/\/t.co\/boWz5kZXTF\">pic.twitter.com\/boWz5kZXTF<\/a><\/p>\n<p>&mdash; Reddit for Business (@RedditforBiz) <a href=\"https:\/\/twitter.com\/RedditforBiz\/status\/1815403063911588062?ref_src=twsrc%5Etfw\">July 22, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Reddit entices AI development to drive revenue<\/h2>\n<p><a href=\"https:\/\/www.reuters.com\/technology\/reddit-partners-with-nfl-nba-boost-revenue-2024-07-22\/\">Jen Wong,<\/a> the company COO stated, <span style=\"font-weight: 400;\">&#8220;The country&#8217;s major sports leagues see the opportunity to reach global audiences on Reddit&#8221;. She also revealed further exploration is underway to develop further engagement between organizations and the engaged communities on the site.<\/span><\/p>\n<p>Since it went public in March this year, the company has been seeking partnership agreements to boost its revenue streams. One earlier deal was <a href=\"https:\/\/readwrite.com\/reddit-openai-chatgpt-deal-partnership-announced\/\">an agreement with OpenAI<\/a> to enable\u00a0access to Reddit\u2019s Data API \u201cwhich provides real-time, structured, and unique content from Reddit,\u201d to transmit discussions from the site to ChatGPT.<\/p>\n<p>In return, the social media site will be able to roll out\u00a0selected AI features to users and moderators, powered by\u00a0<a href=\"https:\/\/readwrite.com\/openai-debuts-mini-version-of-its-most-powerful-model-yet\/\">OpenAI<\/a>, which will now be an advertising partner on the platform.<\/p>\n<p>Reddit also signed $60m terms with Google in a similar partnership, allowing AI models to be trained on its extensive content base.<\/p>\n<p><em>Image credit: Via Ideogram<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reddit has confirmed an agreement with several sports entities, sending its share price upward by around 4%. A &#8220;partnership program&#8221;&hellip; <a class=\"more-link\" href=\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/\">Continue reading <span class=\"screen-reader-text\">Reddit shares climb on confirmation of sports partnerships<\/span><\/a><\/p>\n","protected":false},"author":26531,"featured_media":356254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[90,9912],"tags":[1128],"table_tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reddit shares climb on confirmation of sports partnerships<\/title>\n<meta name=\"description\" content=\"Reddit has confirmed an agreement with several sports entities, sending its share price upward by around 4%. A &quot;partnership program&quot; with major league Reddit has confirmed an agreement with several sports entities, sending its share price upward by around 4%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reddit shares climb on confirmation of sports partnerships\" \/>\n<meta property=\"og:description\" content=\"%%excerpt%% Reddit has confirmed an agreement with several sports entities, sending its share price upward by around 4%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/\" \/>\n<meta property=\"og:site_name\" content=\"ReadWrite\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-23T09:43:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/readwrite.com\/wp-content\/uploads\/2024\/07\/reddit2.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Graeme Hanna\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/graeme818\" \/>\n<meta name=\"twitter:site\" content=\"@rww\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Graeme Hanna\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/\"},\"author\":{\"name\":\"Graeme Hanna\",\"@id\":\"https:\/\/readwrite.com\/#\/schema\/person\/f756f3d13ed8828218e589054348d304\"},\"headline\":\"Reddit shares climb on confirmation of sports partnerships\",\"datePublished\":\"2024-07-23T09:43:36+00:00\",\"dateModified\":\"2024-07-23T09:43:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/\"},\"wordCount\":358,\"publisher\":{\"@id\":\"https:\/\/readwrite.com\/#organization\"},\"keywords\":[\"Reddit\"],\"articleSection\":[\"Social\",\"Technology\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/readwrite.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/\",\"url\":\"https:\/\/readwrite.com\/reddit-shares-climb-on-confirmation-of-sports-partnerships\/\",\"name\":\"Reddit shares climb on confirmation of sports partnerships\",\"isPartOf\":{\"@id\":\"https:\/\/readwrite.com\/#website\"},\"datePublished\":\"2024-07-23T09:43:36+00:00\",\"dateModified\":\"2024-07-23T09:43:36+00:00\",\"description\":\"Reddit has confirmed an agreement with several sports entities, sending its share price upward by around 4%. 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