Online immersive experiences platform Roblox (NYSE:RBLX) has announced a new Roblox Partner program with an aim to offer brand innovation and create a worldwide self-serve advertising ecosystem.
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With this program, the company is looking to engage a broad network of platform advocates such as developer studios, third-party sellers as well as brands. Importantly, the program will offer transparent immersive ads pricing and initial partners include major names such as Dentsu, Century Games, Playwire, Vayner3, and Dubit.
These partners have made a 12-month minimum media expenditure commitment and will have access to incentives such as insights, data, and education. Manuel Bronstein the Chief Product Officer at Roblox commented, “This program is yet another step towards our long-term vision of building an economy where anyone can create, sell and earn on our platform, and expanding our community with new partners will play a key role in enabling this future.”
Overall, the Street has a $43.73 consensus price target on Roblox alongside a Moderate Buy consensus rating. Shares of the company have gained nearly 42.8% so far this year already.
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