Bidstack targeting $100 million annually!20 Sep 2022 13:14
said it has started its strategy to accelerate growth in the US with a number of key appointments, including Jude O'Connor, who was announced as the group's new chief revenue officer.
The in-game advertising and video game monetisation platform said it will increase promotion of its full product offering in the US, building on the recent successful implementation in Europe of a US$30mln commercial deal signed with Azerion.
With recruitment being focused on US-based sales, gaming and marketing professionals with significant experience in digital advertising and with local market knowledge, Bidstack's directors said they believe that the company’s differentiated service offering, when combined with the fulfilment of its current hiring plans, should result in further significant revenue growth in 2023 and beyond.
Management is targeting an annual US$100mln revenue opportunity over the mid to long term, the AIM-listed company said, subject to various factors, including the group's ability to successfully implement its digital open marketplace and cross-sell its full product offering of rewarded video, in-game and in-menu advertising across an expanded portfolio of games.
Leading the sales, publishing, marketing and strategy effort in the US and globally will be new chief revenue officer O'Connor, who joins following seven years at AdColony, one of the world's largest mobile gaming monetisation platforms, and before that, Yahoo and AOL.
The group said it intends to increase the promotion of its full product offering in the US, comprising rewarded video, in-game and in-menu advertising, across a portfolio of more than 110 games, including the entire mobile portfolio of a AAA global games publisher.
This will provide “a powerful combination of brand awareness and performance to advertisers and agencies keen to get in front of the significant gaming demographic”, it said.
The company added: “While major publishers are starting to adopt native advertising formats to increase brand awareness among the estimated 3.2 billion global gamers, Bidstack is now aiming to benefit from the recent further development of its technology, in order to attract additional brand spend through the placement of high-performing rewarded video ads that are usually focused on user acquisition.”
The company said earlier this year that its increasing inventory is now being sold to brands, agencies and partners via a combination of an "always-on" digital open marketplace, and private marketplace for exclusive direct deals.
Last month, the Internet Advertising Bureau and the Media Rating Council established new industry-wide in-game measurement standards for ads that appear within gameplay.
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