Monetizr, the ad experience platform, has raised $4 million in a series of financings led by Change Ventures. Several well-known angel investors participated in the round, including Jared Schrieber, founder of InfoScout/Numerator, and Ari Paparo, CEO of Marketecture Media and a former executive at Google and Beeswax, with participation from Techstars and Ludus Ventures. The money will be used by Monetizr, which has partnered with a number of Fortune 500 companies and top game publishers around the world to expand its US sales team and establish development centres in London, Riga and Helsinki in Europe.
In-Game Advertising Industry
More than 3 billion gamers worldwide and with the next generations moving away from television, advertising spend is increasingly flowing to games! According to projections, the in-game advertising industry will reach $32bn in 2023 and $46bn in 2027. The data also reveals a diverse demographic, with more than half of mobile gamers over the age of 35. In addition, 43 per cent of smartphone usage is for gaming, which will soon overtake social media. Given the size of the potential market, it may come as a surprise to hear that game makers are trying to monetise their games while most brands and marketers are still struggling to create scalable advertising campaigns. As of now, in-game advertising mainly consists of background billboards or intrusive video adverts.