Bidstack Group PLC Trading Update (9298I)
December 17 2020 - 1:00AM
UK Regulatory
TIDMBIDS
RNS Number : 9298I
Bidstack Group PLC
17 December 2020
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
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Buchanan Communications Limited
Chris Lane / Stephanie Watson / Kim van
Beeck
bidstack@buchanan.uk.com +44 (0) 20 7466 5000
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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
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END
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