Roblox Corp ( 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 ( RBLX ) is ramping up its push to attract new ad dollars to its platform and has reached out to PubMatic Inc ( PUBM ) for help boosting sales of video ads on the platform.

The collaboration with PubMatic ( PUBM ) 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 ( RBLX ), said the company aims to "remove friction and make it seamless to buy Roblox ( RBLX ) 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 ( RBLX ) ad inventory will be pooled in private exchanges created by PubMatic ( PUBM ), which will give the company more control over ad prices and who is eligible to purchase ads. Roblox ( RBLX ) 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 ( RBLX ) 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.

Check This Out: Inflation Rises More Than Expected To 3.5% In March, Derails June Rate Cut Hopes

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