BIDS.L Share News (BIDS)

(Sharecast News) - In-game advertising platform provider Bidstack Group said on Thursday that full-year revenues were on track to exceed market expectations.
Bidstack stated it had experienced "significantly increased" demand from advertisers in the second half of 2020, leading the group to work hard on both the demand and supply-side strategies of its business.

On the supply side, Bidstack said it was working closely with leading international advertising agencies and brands, while its supply-side strategy continued to focus on working with a number of the video games developers and publishers to incorporate its technology into their games, successfully generating revenues in core markets in the process.

Chief executive James Draper said: "In the second half of 2020 we have been conducting our work with quiet efficiency. Over that period we have seen a step-change in interest from brands wanting to activate within gaming. We are witnessing average order values increasing significantly and experiencing advertising agencies now including in-game advertising as a component in large media plans. We believe this is a meaningful shift from where the market was 12 months ago.

"We are at the beginning of a new industry, where brands will continue to explore and invest in ways to activate and protect their IP in and around interactive entertainment. The diligent work of our growing team, the knowledge we have accumulated and the demonstrable acceleration of revenue being run through our products put Bidstack in a strong position to capitalise on this growth."

As of 1120 GMT, Bidstack shares were up 17.74% at 6.83p.