Hollywood software company Mandalay Digital Group announced Monday it had partnered with nine new ad networks and direct advertisers.
Chief Executive Peter Adderton said the move comes as Mandalay looks to increase its presence in the advertising field and further monetize its Digital Turbine software. The software allows users to discover apps and purchase them through their carrier instead of a third-party app store.
“Digital Turbine will benefit from a greater number of mobile advertising agreements and the ability to drive a greater number of CPI (cost per install) agreements, and future product and revenue growth,” Adderton said in a statement.
Westwood’s Grab Games and Santa Monica’s Game Show Network are among Mandalay’s new direct advertising partners. Financial details of the partnerships were not disclosed.
Shares of Mandalay Digital closed at $4.60 in Monday trading, down more than 5 percent.