Bidstack Group PLC (LON:BIDS) has told investors that demand for in-game advertising has increased significantly in recent months amid the coronavirus (COVID-19) pandemic.
In a trading update for six months ended June 30, 2020, the video game-focused ad-tech firm said it landed advertising campaigns from the United States, mainland Europe and the UK. And, it added, a recent ‘Gold Standard’ certification by the Internet Advertising Bureau is opening up new opportunities.
READ: Bidstack gets ‘Gold Standard’ from digital advertising body
Over the six month period it ran eleven campaigns for major advertising agency groups. Through its emerging business model the company generated £275,000 of revenue, and, it ended June with some £5.9mln of cash.
"The disruption to the advertising industry, as a result of COVID-19, has led to media buyers turning away from traditional means of advertising and focusing increasingly on emerging digital options,” James Draper, Bidstack chief executive said in the update.
“Bidstack's platform is well-positioned to capitalise on the increase in demand for our native in-game advertising inventory, which captures a large number of video game consumers. Over the period the levels of demand-side interest we are experiencing from media agencies and brands has increased significantly.”
Draper added that Bidstack is presently working with a range of game developers to create a depth of supply that allows the company to fully exploit the demand it is now seeing.