Shares of Weight Watchers rose more than 5 percent Tuesday after the company announced that music producer DJ Khaled will be its “social media ambassador” in 2018.

Weight Watchers said Khaled will document his progress on social media as he completes the “WW Freestyle” weight-loss program.

Khaled has a wide following on social media. As of Tuesday morning, he had 3.92 million followers on Twitter. The music mogul also gets 3-to-4 million views per Snap on Snapchat and has 8.9 million followers on Instagram.

“By capturing and sharing his process, he will enliven and inspire his community, showing that it’s possible to integrate healthy habits into your life,” Weight Watchers President and CEO Mindy Grossman said in a release.

With the Khaled endorsement, the company is likely trying to keep the momentum it’s seen since signing Oprah Winfrey, as well as expand more into the male demographic.

The WW Freestyle program was launched last month with a campaign featuring Winfrey, who holds a 9.87 percent stake in Weight Watchers. Winfrey has made about $300 million since investing in the company in 2015, with her endorsement boosting sales and the value of the stock.

The press release did not comment on Khaled’s compensation.

Source: Investment Cnbc
Weight Watchers rallies after DJ Khaled signing as it looks to repeat Oprah success