Reddit is shaking things up in the sports world. The social media giant has inked lucrative NFL and NBA partnerships, along with deals with MLB, PGA Tour, and NASCAR. Why? To fatten its wallet after going public. Now, sports enthusiasts can expect a flood of game highlights, behind-the-scenes footage, and exciting AMA sessions with their favorite players.
Reddit’s Risky Bet: Will NFL and NBA Partnerships Pay Off?
This bold move isn’t just about sports entertainment. Reddit is teaming up with big advertisers like Samsung, Ford, Volkswagen, and FanDuel. These brands will place their ads next to sports clips, bringing in heaps of cash. Reddit will then share this revenue with the sports leagues, creating a win-win situation.
Take, for example, a highlight reel from a game between the San Francisco 49ers and the Seattle Seahawks. Just before you watch that thrilling play, you might catch an ad. This strategy has been tested since the 2023-2024 NFL season, featuring Pro Bowl players and even the NFL’s schedule planners in AMAs.
Reddit’s Chief Operating Officer, Jen Wong, is all in. She said in a press release, “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.” Clearly, Reddit is on a mission to make its platform irresistible to users and investors alike.
But there’s more to this story. Reddit isn’t just riding on sports. Over the past year, the company has been hustling to boost its appeal to investors. They struck deals with OpenAI and Google to train AI models on user content. Plus, they jacked up the cost for some third-party developers to access their API, sparking protests across the site.
Reddit’s aggressive revenue strategy has parallels with Twitter’s pre-Musk era when it had similar media and sports deals. The social media landscape is shifting, and Reddit is making daring moves to stay ahead. Whether this will catapult Reddit to new heights or stir up more controversy is yet to be seen.
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