Bidstack Group PLC (LON:BIDS) said it is on track to “exceed market expectations” for revenues in its full year as its said demand from advertisers has “significantly increased” in the second half of 2020.
In a trading update, the in-game advertising platform said it is also working closely with leading international advertising agencies and brands, with briefs received by the company evolving from test spend to being “on plan” as advertisers try to reach the growing audience of video gamers.
Meanwhile, the company said its supply-side strategy is focusing on working with a number of the world's largest video game developers and publishers to incorporate its technology into their games. Bidstack said while the strategy is complex, it is now placing advertising and successfully generating revenues in core markets with some of the world's largest video games publishing groups.
"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”, Bidstack chief executive James Draper said in a statement.
“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", he added.