19 Dec 2019 07:00
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this Announcement, this information is considered to be in the public domain.
19 December 2019
BIDSTACK GROUP PLC
('Bidstack' or 'the Company')
Milestone Advertising Trading Agreement
Bidstack Group plc (AIM: BIDS), the native in-game advertising group, is pleased to announce that it has entered into a two year trading agreement with a global marketing services group commencing on 1 January 2020.
Under the terms of the agreement, the advertising group has agreed terms for gross media expenditure up to £10,000,000 per annum for the next two years.
The trade agreement will assist brands to embrace the full potential of Bidstack's disruptive technology making Bidstack's sophisticated digital end-to-end in-game advertising platform available to the digital marketing services group's advertising clients.
This agreement is the result of several months' work by Bidstack and is a hugely positive development providing the Company with access to significant advertising revenues from top tier global brands which will help fuel its future expansion. It also represents a significant shift in approach from a major advertiser looking to engage with an affluent, diverse and growing gaming and esports audience on a larger scale.
The Board believes this agreement will give Bidstack's stakeholders increased confidence in the value of Bidstack's potential and will provide a persuasive rationale for some of the world's biggest games developers and publishers, with whom the Company is currently negotiating, to accelerate their adoption of its technology.
James Draper, CEO, commented:
"This is a huge milestone for us as a business. We have always believed in our technology, our team and our partners and this trade deal is a real show of faith from the advertising industry that we serve. For me, this deal signals the dawn of a new ad category.
"On one hand, we are disappointed that none of this revenue will now be recognisable in 2019, but, on the other, this sets the company up well for 2020 and beyond.
"Brands and advertisers can see how gaming has emerged as an exciting channel in recent years and there is no better endorsement of that view than a multi-million pound trade deal from one of the world's biggest agency groups."
- Ends -
Contacts:
Bidstack Group Plc James Draper, CEO |
via Buchanan |
SPARK Advisory Partners Limited (Nomad) Mark Brady/Neil Baldwin/James Keeshan |
+44 (0) 203 368 3550 |
Stifel Nicholas Europe Limited (Broker) Fred Walsh/Neil Shah |
+44 (0) 20 7710 7600 |
Buchanan Communications Limited Chris Lane / Stephanie Watson / Kim van Beeck bidstack@buchanan.uk.com
|
+44 (0) 20 7466 5000 |
Notes to editors:
About Bidstack
Bidstack is an advertising technology company which provides dynamic, targeted and automated native in-game advertising for the global video games industry across multiple platforms. Its proprietary API technology is capable of inserting adverts into natural advertising space within video games across multiple video games platforms (mobile, PC and console).
Bidstack's customers are games publishers and developers and advertising agencies, brands and programmatic advertising platforms. Bidstack contracts exclusive access to the native in-game advertising space within video games from their developers or publishers and sells that advertising space either direct to specific brands and their agencies or through programmatic advertising platforms.