Reddit boosted as it teams up with NFL, NBA, MLB, PGA and Nascar

Reddit (NYSE:RDDT) shares traded higher, up more than 5%, with the buzz of a new brand partnership with America’s largest sports leagues - the NFL, NBA, MLB, PGA Tour, and NASCAR.

The social media company, in a statement, said the partnerships will see exclusive video content including highlights, behind-the-scenes footage, and player ‘AMAs’.

On the platform the aim is to boost user engagement, meanwhile, on the business side, the collaborations aim to attract more advertising revenue.

It follows a test with NFL content, which found an improved purchase intent, brand favorability, and awareness among users.

“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,” Reddit’s chief operating officer Jen Wong said in a statement.

“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.”

In New York, Reddit stock was up $3.49 or 5.4% changing hands at $68.19.