Shares of Bidstack Group PLC (LON: BIDS) surged 25.8% today after the in-game advertising group announced that it expects its full-year revenues to exceed analysts expectations driven by huge demand from advertisers.
The company said that it is working closely with leading international advertising brands an agencies some of which are on test spending, while others have signed up for various plans to reach the growing number of video gamers globally.
Bidstack is also working with the largest video game developers and publishers in the world to incorporate their technology into their games, a complex strategy that is generating revenues for the company through in-game ad placement.
James Draper, Bidstack’s CEO, 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.”
Adding:
“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.”
Bidstack share price
Bidstack shares today surged 25.8% to trade at 7.30p having rallied from Wednesday’s closing price of 5.80p.
