Reddit Stock Surges with Major Sports Partnerships

Deals with NFL, NBA, and other leagues aim to boost revenue through exclusive content and advertising opportunities.

Reddit's share price increased by nearly 7% following the announcement of new sports partnerships.
The collaborations will bring video highlights, behind-the-scenes content, and AMA sessions to the platform.
Reddit aims to capitalize on its engaged user base and the popularity of sports to attract more advertisers.
The company has also signed AI-related deals with OpenAI and Google to enhance its platform.
Reddit reported a 48% increase in first-quarter revenue, driven by its diverse revenue streams.