17 Dec 2020 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 now considered to be in the public domain.
17 December 2020
Bidstack Group Plc
("Bidstack" or "the Company")
Trading Update
Bidstack Group Plc (AIM: BIDS.L), the native in-game advertising platform, is pleased to report that, subject to audit, it is on track to exceed market expectations in respect of revenues for the year ending 31 December 2020.
The Company has experienced significantly increased demand from advertisers in the second half of 2020.
Bidstack has been working hard on both the demand and supply side strategies of its business.
On the supply side, as previously announced, the Group is working closely with many of the world's leading international advertising agencies and brands. The advertising briefs now being received by Bidstack are evolving from test spend to being "on plan" as the desire to reach the attractive video gaming audience grows.
Bidstack's supply-side strategy continues to focus on working with a number of the world's largest video games developers and publishers to incorporate the Company's technology into their games. While this strategy has proved complex, Bidstack is now placing advertising and successfully generating revenues in core markets with some of the world's largest video games publishing groups.
The Company intends to make a further announcement with a more detailed update on the Group's performance for the year ending 31 December 2020 in early 2021.
James Draper, CEO of Bidstack, 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.
In addition Bidstack is considering a number of new commercial opportunities where our technical offering and insight may be of interest to some global technology led companies.
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."
-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/Luisa Orsini Baroni |
+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 technology is capable of inserting adverts into natural advertising space within video games. Bidstack's customers are games publishers and developers (on the supply side), and advertising agencies, brands and programmatic advertising platforms (on the demand side).
Bidstack contracts exclusive access to the native in-game advertising spaces within video games from their developers or publishers and sells that advertising space either directly to specific brands and their agencies or through programmatic advertising platforms