Q4... let the dog see the rabbit24 Oct 2019 11:26
James Draper, Chief Executive, said:
As I said in our audited accounts for 2018, we are building out Bidstack to become the biggest media owner in the video games market. If a brand wants to be visible within a game environment (we call it the native environment), or in a game application (such as reward video etc.) or around the game (e.g. streamer broadcasts), we want them to come through Bidstack.
Our challenge for 2019 was to prove to advertising agencies and brands that our in-game advertising inventory could be traded programmatically, which we have now done.
As we said in April, for the first half of the year we've not focused on revenue. Instead, we've focused on building out our offering to a level where significant advertising revenues can be run through our platform. The revenue in H1 were test campaigns to ensure all signals coming back from our technology were going to enable us to deal with major advertising agencies. These test spends were run in conjunction with supportive partners who have worked alongside our product team to ensure our inventory is easy to buy on scale.
I believe our patience and methodology have paid off and our team has captured the imagination of advertisers across the world. The fruits of their labour have become visible with our first strategic partnership agreement with a major agency holding group, Dentsu Aegis Network (parent company 'Dentsu Inc.' TYO: 4324). I expect this will now speed up a number of other elements to the business, including further game acquisition and the adoption of industry wide definitions for this new ad format. These developments will open the door to significant real advertising spend.
Now having won the confidence of one of the world's biggest advertising groups is an enormous breakthrough for the Group.
The renewal of our contract with our friends at Football Manager for the next three years illustrates their understanding of the direction we are taking. We thank both them and Codemasters for working so closely with us.
The Bidstack team has undertaken an incredible amount of work in 2019 so far and I couldn't be more excited about where the Company is going. Q4 is all about execution on our previous work.
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