REG - Bidstack Group PLC - Strategy Update

BidstackAnnouncement

26/10/2022 07:17

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RNS Number : 1001E  Bidstack Group PLC  26 October 2022

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26 October 2022

Bidstack Group Plc

("Bidstack" or the "Company" or the "Group")

Strategy Update

 

Following the successful conclusion of its shareholders' meeting on 25 October
2022, Bidstack Group Plc (AIM: BIDS), the in-game brand activation platform,
is pleased to share an update on its strategy for the accelerated growth of
the business.

The Board is excited that the Group's increased focus on the US market is
starting to create traction and its team is continuing to grow.  The
recruitment campaign focused on recruiting US-based sales, gaming and
marketing professionals with significant experience in gaming, digital
advertising and with local market knowledge is continuing and, following the
announcement of Jude O'Connor (CRO) and Camila Franklin (COO), the team now
comprises nine people.

 

As announced on 20 September 2022, the Directors' target of annual revenue
from the US market of US$100m or more within the next three years is already
starting to become visible and members of the US team are incentivised to
provide these results.

Asia-Pacific is also becoming a key region which exhibits favourable market
dynamics for gaming and advertising.  Bidstack has appointed Motoki Kikuta
(Regional Lead) based in Tokyo to capture the opportunity with local game
developers and media agencies.

 

Bidstack's breadth of game developers continues to grow given new products,
ad-formats and the acceleration of adoption of the Company's platform.  This
is reflected in several new commercial deals:

●    Bidstack has signed with global mobile developer Outfit7 for its
portfolio of games which have global reach and up to 470m monthly active
users; and

●    Bidstack now has a partnership with Unity as a Unity Verified
Solution.  The Verified Solution status has been rigorously tested and will
see the Bidstack SDK featured on Unity platforms as a "best-in-class"
monetisation solution for game developers.

 

Bidstack's technology and licensing business is also becoming a crucial pillar
of growth for the future. This part of the Group's business has already
achieved a number of enterprise agreements, including a contract to provide a
leading Asia-Pacific mobile marketing technology company with the ability to
white-label the platform, as announced on 11 July 2022. Since then it has
signed a multi-year deal with metaverse franchise, SimWin Sports.

 

The Directors are pleased with the Group's technology and licensing business'
pipeline of both demand and supply side customers wishing to license
Bidstack's self-serve platform in non-core markets.

 

Bidstack is working to build a transparent, open marketplace which removes
barriers to the growth of programmatic buying and selling in gaming
environments. As demand for in-game advertising continues to grow in line with
advancements in measurement and brand safety, Bidstack's product roadmap is
expected to deliver the following items in 2023:

 

●    Further SSP capabilities by expanding connections with enterprise
partners and integrating new ad formats to scale inventory access; and

●    Expanded data infrastructure to ingest third-party data sources for
verification, viewability and attribution and reporting capabilities for
audience activation and campaign optimisation.

 

As a consequence of these developments, Bidstack intends to undertake a
comprehensive business review, specifically reassessing and renegotiating,
where appropriate, both existing and new reseller engagements in all
geographies in order to maximise the benefits of its contacts with developers,
publishers, ad-tech vendors and media companies.  This strategy is based on
the Group's early evidence of its success in selling directly into North
America and Japan.

 

Bidstack's has uploaded an investor presentation which can be found at
www.bidstack.com/investors (http://www.bidstack.com/investors) .

James Draper, Founder/CEO said:

"Bidstack has an aggressive growth strategy for 2023 and beyond. We are happy
to share the new revenue streams the Group is exploring, including licensing
our proprietary technology, empowering IP rights holders to control their
brand activations in the virtual world and the expansion of our gaming 'SSP',
which now houses all ad-formats within the gaming ecosystem.

 

"This is an exciting period where we are looking to accelerate our top line
growth and look to cement our position as the dominant technology provider for
game developers and platform owners for targeted, brand-based communications
within gaming environments and applications."

 

-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 Nicolaus Europe Limited (Broker)

 Fred Walsh / Tom Marsh                            +44 (0) 20 7710 7600
 Buchanan Communications Limited

 Chris Lane / Stephanie Whitmore / Kim van Beeck   +44 (0) 20 7466 5000

 bidstack@buchanan.uk.com

 

 

 

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