Roblox Targets 3D Ad Launch To Beat The Slowdown

Roblox Targets 3D Ad Launch To Beat The Slowdown
  • Online gaming firm Roblox Corp RBLX looks to launch 3D advertising on its platform next year to diversify its revenue stream beyond in-game purchases, Reuters reports citing Roblox's annual developers' conference.
  • Roblox will test ads with developers and a handful of advertisers by the end of this year.
  • The 3D advertising, better known as "immersive ads," experience will only reach audiences aged 13 and above.
  • A slowdown in the economy has impacted the advertising industry bigwigs like Snap Inc SNAP and Facebook owner Meta Platforms Inc META.
  • Roblox also felt the pinch as the reopening of schools after the lockdown, and the surging inflation crimped user spending.
  • Roblox has been doubling down on the "metaverse," a virtual space enabling hanging out and chatting, shopping, and attending concerts.
  • On the other hand, its Chines peer Sea Limited's SE Garena gaming unit looks to lay off hundreds of staff in Shanghai.
  • Garena also canceled multiple new games.
  • However, Sony Group Corp SONY remains aggressive on gaming prospects despite weaker quarterly results. However, Facebook braced to close down its Facebook Gaming app as it failed to gain traction.
  • Price Action: RBLX shares closed higher by 8.74% at $45.52 on Friday.

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