Business
Kidoz Inc. Announces Continued Network Growth in Q2
COPPA Compliant Mobile Network Reaches Kids Worldwide in Complete Privacy VANCOUVER, BC / ACC...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Announces Continued Network Growth in Q2COPPA Compliant Mobile Network Reaches Kids Worldwide in Complete PrivacyVANCOUVER, BC / ACCESSWIRE / July 11, 2023 / Kidoz Inc. (TSXV:KIDZ) (the \"Company\"), mobile AdTech developer and owner of the market leading Kidoz Contextual Ad Network (www.kidoz.net) and the Kidoz Publisher SDK, announced today its Q2 2023 network growth and corporate update.Network Growth highlights Q2 2023 over Q1 2023 include:350 million monetized impressions were delivered during the second quarter of 2023 recording 36.1% growth over the 257 million paid impressions delivered in the first quarter of 2023;230 million video views were delivered during the quarter representing a 38.5% increase over the 166 million video views in the first quarter of 2023;Over 90 Million rich media ads were played in the second quarter of 2023 for 30.4% growth over the 69 million in the first quarter of 2023;Retains 2023 Revenue guidance of US$16.5M to US$18.5M, representing approximately 15% year over year growth over 2022.Fiscal Q2 financial reports to be released prior to the end of August 2023.Market PositionThe global mobile advertising market, which is expected to hit $378 billion in 2028, has seen a slowdown since the second half of 2022 with significant revenue misses announced by technology companies dependent on advertising revenues. In addition, Roblox announced the cessation of all advertising and sponsorship to the 47% of its player base that are under the age of 13. Kidoz had a strong fiscal 2022, but began to see weakness in the market in the first quarter of 2023. Despite a slow start to 2023, Kidoz network activity remains strong and revenues are again tracking ahead of the previous year.Kidoz specializes in safe and compliant monetization for app developers who are responsible for adhering to tight government regulations for advertising to children that come with high penalties if broken. Kidoz has built a complete end-to-end technology platform that enables mobile advertising in full compliance with the current and evolving privacy legislation. As fines for breaking the rules of COPPA compliance in America have increased significantly in frequency and gross value, compliance is a critical risk that must be addressed by technology and consumer brands alike. The combination of these macro trends coupled...