IGA, one of the companies that serves up dynamic in-game ads for games like Burnout Paradise, is feeling the advertising pinch, reeling from a recession that has spawned mass layoffs and closures.
VentureBeat reports today that the in-game advertising group—not to be confused with Castlevania developer Koji “IGA” Igarashi—is in the process of securing funding, but is also looking at a potential sale of the company, as it braces for lower than projected revenues. The company has a solid track record of losing heaps of money, with losses of $11 million in 2007, $26 million in 2008.
The in-game advertising firm trimmed back late last year, laying off approximately 25 percent of its staff.
Let’s all pray for their continued success. We’d hate to see more people out of work. And we’d miss those deodorant billboards.
Struggling in-game ad firm IGA Worldwide seeks investments or possible sale [VentureBeat – thanks, Leafer09!]