Bidstack Group PLC Milestone Advertising Trading Agreement (4040X)
December 19 2019 - 2:00AM
UK Regulatory
TIDMBIDS
RNS Number : 4040X
Bidstack Group PLC
19 December 2019
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.
19 December 2019
BIDSTACK GROUP PLC
('Bidstack' or 'the Company')
Milestone Advertising Trading Agreement
Bidstack Group plc (AIM: BIDS), the native in-game advertising
group, is pleased to announce that it has entered into a two year
trading agreement with a global marketing services group commencing
on 1 January 2020.
Under the terms of the agreement, the advertising group has
agreed terms for gross media expenditure up to GBP10,000,000 per
annum for the next two years.
The trade agreement will assist brands to embrace the full
potential of Bidstack's disruptive technology making Bidstack's
sophisticated digital end-to-end in-game advertising platform
available to the digital marketing services group's advertising
clients.
This agreement is the result of several months' work by Bidstack
and is a hugely positive development providing the Company with
access to significant advertising revenues from top tier global
brands which will help fuel its future expansion. It also
represents a significant shift in approach from a major advertiser
looking to engage with an affluent, diverse and growing gaming and
esports audience on a larger scale.
The Board believes this agreement will give Bidstack's
stakeholders increased confidence in the value of Bidstack's
potential and will provide a persuasive rationale for some of the
world's biggest games developers and publishers, with whom the
Company is currently negotiating, to accelerate their adoption of
its technology.
James Draper, CEO, commented:
"This is a huge milestone for us as a business. We have always
believed in our technology, our team and our partners and this
trade deal is a real show of faith from the advertising industry
that we serve. For me, this deal signals the dawn of a new ad
category.
"On one hand, we are disappointed that none of this revenue will
now be recognisable in 2019, but, on the other, this sets the
company up well for 2020 and beyond.
"Brands and advertisers can see how gaming has emerged as an
exciting channel in recent years and there is no better endorsement
of that view than a multi-million pound trade deal from one of the
world's biggest agency groups."
- 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/Neil Shah +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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGRGGGACPUPBPGR
(END) Dow Jones Newswires
December 19, 2019 02:00 ET (07:00 GMT)
Bidstack (LSE:BIDS)
Historical Stock Chart
From Apr 2024 to May 2024
Bidstack (LSE:BIDS)
Historical Stock Chart
From May 2023 to May 2024