Roblox Corp (NYSE:RBLX) shares are trading higher Wednesday following reports the company has ramped up efforts to attract advertisers to its platform and made other moves to boost advertising sales.

What To Know: According to a Wall Street Journal report, Roblox is ramping up its push to attract new ad dollars to its platform and has reached out to PubMatic Inc (NASDAQ:PUBM) for help boosting sales of video ads on the platform.

The collaboration with PubMatic will allow brands to purchase video ads through a traditional online-bidding process. The ads will be shown to users who are 13 years of age and older. Realm creators will also get a cut of ad revenues if they opt to show the ads.

Stephanie Latham, vice president of global partnerships at Roblox, said the company aims to "remove friction and make it seamless to buy Roblox ads at scale."

"We are very intentionally looking for ways to bring our audience thoughtfully to all brands," Latham added.

The report indicates that Roblox's ad inventory will be pooled in private exchanges created by PubMatic, which will give the company more control over ad prices and who is eligible to purchase ads. Roblox reportedly said it plans to move to open exchanges at some point in the future. The video ads are expected to launch sometime later this year.

Roblox announced this week that it will report first-quarter financial results on before the market open on May 9. The company is expected to report a quarterly loss of 53 cents per share and revenue of $922.977 million, according to estimates from Benzinga Pro.

RBLX Price Action: Roblox shares were up 2.81% at $40.19 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Roblox.