The Bidstack share price (AIM: BIDS) surged by over 20 percent today to soar above 7p as the in-game advertising platform revealed surging demand from big brands.
In a trading update, BIDS revealed that revenues are on track to exceed expectations for the full-year, partly driven by ‘significantly increased demand’ from advertisers of the second half of the year.
A further announcement on the performance of the business will be made in early 2021 as the company heralded a ‘step change’ in big brands wanted to advertise in video games and the average order value increasing:
“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.”James Draper, CEO
The world of video games has elevated itself to rock star status in the middle of the pandemic. With traditional forms of advertising on the decline and gaming on the up, it is clear that there is logic in more brands wanted to conduct in-game advertising and reach large audiences.
Still with a m. cap of £27m – there could be plenty of room left for value of BIDS to grow.
Definitely one to watch…