September 12, 2022
Roblox, a user-generated gaming platform and the creator of the games “Jailbreak” and “MeepCity,” have announced plans to introduce 3D advertising on its platform next year. This will enable the company to diversify revenue streams beyond game sales.
While it will review ads with developers and a limited number of marketers, Roblox also revealed that it will incorporate age guidelines into its games and expand its advertising business as it tries to charm an older audience, diversify its revenue streams and meet the needs of millions of gamers.
Roblox called 3D advertising “immersive ads,” set the age limit at 13, and its CEO, David Baszucki, is very optimistic that this type of technology will help people around the world connect and be together for the long term in many ways.
This is happening at a time when the advertising industry is being hit by a declining economy, affecting companies such as Snap and Meta as well as the Californian Roblox itself. The situation is exacerbated by the reopening of schools after closure and high inflation, which has dampened user spending.
To counter the decline in demand, Roblox has expanded its focus to the “metaverse,” a virtual space where players can do everything from hanging out and chatting to shopping and attending concerts. Roblox is also looking for ways to increase revenue from its virtual currency, “Robux,” which children use to upgrade their avatars by purchasing in-game items such as accessories or pets.
The source of this piece includes an article originally from Reuters.
