Reddit strikes deals with sports leagues to attract more ad revenue

Reddit is bringing more sports content to its platform through deals with leagues, including the National Basketball Association and the National Football League, in a bid to attract more ad dollars, sending its shares up 4%.

The deals ”which also cover the Major League Baseball, the PGA Tour and National Association for Stock Car Auto Racing” could help Reddit capitalize on the loyal audience and star power sports commands to boost its revenue, the social media platform said in a blog post on Monday.