IGA Worldwide, possible sale
ADOTAS — In-game ad firm IGA Worldwide might be sold because of revenue problems, signaling a possible downturn in what looked like a growing ad market.
IGA, which shares ad revenue with game publishers and console owners, allows game developers to designate spots inside games where ads can be run. Those ads can be inserted dynamically, showing up in places such as billboards or moving vans inside a game.
But Justin Townsend, IGA chairman, while the company is looking for funding, it is also exploring a sale. According to Venturebeat, the company lost $11 million on revenues of $3 million in 2007. In 2008, it was projecting it would lose $26 million on revenues of $3.4 million. Townsend said that the company did not lose all of that because it renegotiated deals.
The company, founded in 2004, has more than 30 million users and competes with rivals such as Microsoft’s Massive and Double Fusion. But it laid off 25 percent of the company, leaving it with about 45, in November.
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