Kidoz Inc. (TSX-V:KIDZ) said it has launched Prado, a cutting-edge mobile advertising platform that can access hundreds of thousands of the world's most famous apps and reach over a billion active users monthly.
The company also said that with a “return to normalcy” for the advertising market predicted in the second half of 2023, it expects its results for the current year to be greater than in 2022 when it achieved strong growth despite challenging trading conditions.
Prado, a wholly owned division of Kidoz led by company founder Eldad Ben Tora as president, connects brands with targeted digital audiences inside their favorite games and apps.
"We're thrilled to announce the launch of Prado and Eldad Ben Tora's appointment as president of the Prado" said Jason Williams, CEO of Kidoz in a statement. "With Eldad's experience and leadership combined with Prado's strong technical and commercial position, we believe this new division will result in rapid growth and success."
Kidoz said Prado has been developed by its software engineers, who have transformed the company’s market-leading kid-safe Ad Network to also reach the significantly larger digital ad market for teens, families, and audiences over 13 years old.
The Prado technology combined with Kidoz’s internal controls will ensure that no inappropriate advertisements will be served to children and compromise their safety, it noted.
"Prado is an exciting business unit for Kidoz that comes after years of requests from advertisers to reach not just children, but parents and families as well," commented Tora.
"Using advanced targeting capabilities and the incredible reach our systems have created, advertisers can now engage with the complete family. Prado has created a unique gateway into in-app media and the scale is incredible.”
Tora said over 220 million people in America alone are playing mobile games and Prado can reach them, providing advertisers with an opportunity to build their brands and secure new customers.
The global mobile games market is forecast to reach $218.7 billion in 2024.
“We have created a new commercial strategy to bring Prado to market and expect our efforts in 2023 to lay the foundation for a powerful new division and revenue source in the Kidoz organization," Tora said.
Kidoz owns the leading COPPA & GDPR-compliant contextual mobile advertising network that safely reaches hundreds of millions of kids, teens, and families every month. Google certified, and Apple-approved, Kidoz provides an essential suite of advertising technology that unites brands, content publishers and families.
Contact the author at jon.hopkins@proactiveinvestors.com