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Audioboom Achieves Record Global Audience Reach
Audioboom (AIM: BOOM), the leading global podcast company, is pleased to announce it achieved record audience reach in January 2024 through the continued growth of its podcast network.
In January, podcasts on the Audioboom Creator Network were downloaded by more than 38.6 million unique listeners worldwide, a new monthly record and more than 9% up on Q4 2023's monthly average (34.4 million).
Audioboom's audience growth follows the successful launch of new podcasts in the Audioboom Creator Network including Matt & Shane's Secret Podcast and The Why Files, which debuted in the latest Triton Digital podcast ranker at number 76, along with Audioboom Studios production National Park After Dark which debuted at 92.
The Company will continue to bring new top tier podcasts with strong audiences to the platform in 2024.
In the US, Audioboom remains the fifth largest podcast publisher on the Triton Digital ranker - now just 100k listeners behind American radio giant Audacy. We continue to grow faster than our competitors - the Company is now 1.5 million weekly listeners behind third place Wondery. In the January 2023 ranker the gap to third place was 2.5 million.
Audioboom's CEO, Stuart Last, commented: "Listeners continue to flock to podcasting and we are doing an incredible job of growing the Audioboom Creator Network audience faster than our competitors. We are developing true global audience scale - key to providing our brand partners with powerful, targeted advertising options to capture the full value of podcasting for our creators."
Cavendish broker note
AUDIOBOOM GROUP (BOOM): CORP Six new top tier podcast partnerships, forecasts reiterated Audioboom has announced six new exclusive partnerships with top tier podcasts, which are expected to add over 4m downloads per month to the 110m per month in Q4 23. The six new podcasts (Pretty X Unfiltered, BDA with Katherine Schwarzenegger, Soder, Omnibus, Do We Know Them?, and George Conway Explains It All To Sarah Longwell) selected Audioboom’s differentiated platform due to factors such as its full suite of capabilities, which includes inventory creation tool AdRip, the automated advertising marketplace Showcase, and the November launch of Advet. After an increase in the platform’s ranking to fourth in the February Triton Digital podcast rankers, supported by the November win of four top-tier podcasts, the new podcasts will continue to drive download and market share growth across the US and international markets. Today’s announcement will also enable the platform to target new operational records, after the record global audience reach of 38.6m unique global listeners in January, and a record 1bn ad impressions created in October. In the coming months, we expect management will continue to focus on winning and renewing podcasts on attractive terms, such as the extension of key partnerships with five top-tier podcasts in March. Combined with strong early progress for the newly launched brand advertising unit, which is in early-stage commercial partnerships with 8 of the 15 largest US ad agencies, we expect Audioboom will be excellently positioned to capitalise on more positive ad market sentiment through FY24. At this point, we reiterate our FY24E forecasts, and crucially note that our FY24E revenue growth of +21% does not include an improvement in ad pricing beyond Q4 23 levels. Any improvement in the macro environment will then drive upside to our revenue forecasts, which will gear strongly to adjusted EBITDA and cash. We reiterate our target price, and look forward to Audioboom capitalising on its strong foundation through robust operating and financial momentum at the Q1 update in April, the renewal of key podcasts on attractive terms, and new podcast wins.
I'm back in profit today, Mondays Q1 update going to be good
Shares flying
The SP here is rising in advance of the Q1 results, just as they did prior to the land results in January.
I expect it to continue to rise until close of business on Friday.
What happens on Monday will then depend on three pieces of data:
(1) total monthly downloads for each of Jan to March.
(2) total revenue for the quarter.
(3) revenue per 1,000 downloads.
We've had lots of positive REACH updates since the least results, but nothing on these three data sets. They are what matters. If they are positive then the rise over the rest of this week will be sustained after Monday (or possibly boosted further). If they are not so positive the SP will fall back as it did after January's results.
I made good money on this share in 2021 and again between Sept and Jan. I don't hold at present but will keep a keen eye on the results on Monday as I do think it is a very good business.
We're also starting to see Shorts reducing across many brow beaten stocks now. This together with improved economics, lower interest rates (soon) and rapidly improving sentiment (yes, even in the London market, LOL) should see things improving for all of us.
The green shoots of spring are definitely appearing, but as you say Sieveco, ultimately it's results that matter. I have a lot of confidence n SL and BOOM as a whole to do their bit.
Majority of the selling today is shorting selling via IG. They opened around the 250 level. It will fuel the the rally when they become buyers.
I am happy to accumulate into blowout Q1 results on Monday 15th 2024.
Back to earlier high for the day 305 v 310p, all is good
Up 13% today, with just 19 posts here.
I like the lack of noise so far.
400p before Mondays results