Bidstack Group PLC COVID-19 Business Update (9580H)
30 Marzo 2020 - 12:00AM
UK Regulatory
TIDMBIDS
RNS Number : 9580H
Bidstack Group PLC
30 March 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 considered to
be in the public domain.
30 March 2020
Bidstack Group plc
("Bidstack" or the "Company")
COVID-19 Business Update
Bidstack (AIM: BIDS.L), the native in-game advertising group ,
provides the following business update in light of the COVID-19
pandemic.
The Company has noted that restrictions on movement and the
cancellation of live sporting events is leading to the video games
industry witnessing record numbers of daily active users,
concurrent players and hours played.
According to the operators of the Company's first fully
operational programmatic title, Football Manager 20 hosted over
180,000 concurrent players worldwide on 22 March 2020, a record for
the game, making it the third most played game on Steam, the video
game distribution service.
According to the Facteus Insight Report on Consumer Spending and
Transactions (a weekly report on the impact of COVID-19 on the
consumer economy in the US) published on 25 March 2020, spending on
video games (both online and offline), which has seen strong growth
for most of 2020 so far, began to surge in the week of 9 March 2020
and year on year is up over 60% in the week of 16 March 2020.
As a result of the increase in games consumption, Bidstack's
virtual out of home environment, with its global reach and ability
to engage committed sports and video games fans through native
in-game advertising, is currently experiencing high levels of
inbound demand from advertising agencies and has received some
exciting and unexpected commercial opportunities.
Our demand teams are now working with multiple agency groups,
both inside and outside our existing trading frameworks, to help
them fill the gap generated by the absence of live sporting events
and the obvious reduction in the effect of out of home advertising.
We are also working with a number of Bidstack approved resellers in
territories where we have no "official" presence around the globe
running programmatic and insertion order campaigns.
Amongst other things we are pleased to be commencing our first
campaign in a new game from a global leader in digital interactive
entertainment on 6 April 2020.
As expected during this unprecedented period the business has
suffered some disruption, mainly due to a number of trade shows
having been cancelled. This has clearly had an impact on the face
to face meetings that had been scheduled to take place during those
events.
Despite this, the systems and procedures our department leads
have put in place, along with our technology-based platform, are
ensuring that, from an operational standpoint, Bidstack's business
is largely able to proceed as normal.
James Draper, CEO of Bidstack commented:
"COVID-19 has created an unprecedented economic and social
climate. Our first concern has been to ensure the safety and
wellbeing of all our staff, who are now working safely from
home.
"Disruption to the advertising industry, particularly in the out
of home and live sports segments, is leading media buyers to seek
digital alternatives for their brands. It's no longer "business as
usual" in these significant areas. Agencies need to innovate to
assist their brand clients to reach targeted audiences. Bidstack's
technology enables them to do that.
"Our team is working closely with agency groups to help them
test, report and activate larger campaigns across our growing
portfolio of titles through this period.
"I look forward to updating the market further as things
progress and will continue to support our employees, customers and
prospects during this busy and unprecedented time."
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 +44 (0) 20 7710 7600
Buchanan Communications Limited
Chris Lane / Stephanie Watson
/ Kim van Beeck
bidstack@buchanan.uk.com +44 (0) 20 7466 5000
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 API technology is capable of inserting adverts into
natural advertising space within video games across multiple video
games platforms (mobile, PC and console).
Bidstack's customers are games publishers and developers and
advertising agencies, brands and programmatic advertising
platforms. Bidstack contracts exclusive access to the native
in-game advertising space within video games from their developers
or publishers and sells that advertising space either direct to
specific brands and their agencies or through programmatic
advertising platforms.
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