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Excellent!

There’s momentum in the podcast world and mergers etc have increased in 2025. Audioboom has to make a significant and meaningful move NOW. It can’t wait too long or this cycle will pass. Not only hasn’t AIM put a fair value on AB its not even recognising the value of a potential strategic move announced 3 months ago. There are highly rated advisers working in New York and London and they aren’t in this process for a modest deal!

Valuation of Audioboom on AIM is still way off. Perhaps a serious question is a merger with ACAST on Stockholm exchange. There would be an immediate valuation of AB at £10 a share as it’s priced at exactly 2x revenue compared to 2.75 for ACAST. Combined company then moves onto the US market with revenue well in excess of $300m.

Maybe I’ve had too much wine over the break, but something has to click for AB and staying on AIM just isn’t going to work in my opinion. TheBigShow mentions a direct move onto NASDAQ but the $100m revenue forecast in 2026 of AB is on the borderline.

There needs to be a big step change which will get some heads turning.

Another acquisition, if that’s the route, the size of Adelicious would of course be good but the true market value still wouldn’t be recognised on AIM.

Great snap shot of 2025 performance. All records are being surpassed.

The dominance in video must surely be interesting to a buyer!

I think Stuart’s words are enforcing the fact that Audioboom is going from strength to strength and will be a dominant feature in podcasting even it remains independent.

This is one heck of a statement by The BigShow. Probably correct. I do hope the Q4/ FY25 reflects the points. More importantly the forward looking FY26 comments by management must be crystal clear as BS has written.

Thanks successtothebrave. A very happy and prosperous New Year to you and all here who are positive investors .

Absolutely Forensic and nice comment. Tobin and Last together with all the team deserve huge credit for steering AB into this position.

You’re laying a great trail to follow BigShow.

This is an exceptional analysis and finally encapsulates what many have posted here and what long term investors have believed.

Rockefeller are obviously doing a first class job in educating potential acquirers on the value that an integration of Audioboom could bring to a major media company committed to podcasting.

Audioboom hold a lot of cards in their favour for a strong negotiation to maximise the worth of their platform and business. Audioboom has all the hallmarks of a Warner Discovery. Excellent new content, creative achievement and a huge catalogue of inventory. Plus the ability to monetise.

With Rockefeller to the fore a value of the brokers , Cavendish, of £13.50 is just the minimum.

Very good prediction BigShow about a Santa Rally!

Some food for thought on Podcast Ranking.

From research and discussions I’ve had I would say that 2025 exposed weaknesses in the podcast rankers:

Triton - you’re entered into Triton’s ranker if you use their data or ad tech services. So it is a relatively small snapshot of the industry. Also it is US only (plus a few smaller territories). Importantly it does not measure video which is now a material amount of consumption.

Podscribe - the positive is that it covers all major countries and networks and includes video. But it only measures podcasts that carry host-endorsement advertising and a lot of of the data is extrapolated from a limited data set.

Edison - includes all podcast, all networks and video. But it is survey based. It isn’t global (USA and UK) and results are extrapolated. Also there is a long lag time from collection of data to publishing of the ranker.

So nothing perfect here… more and more it’s better to take a pragmatic approach, knowing that while it’s impossible to specifically identify the 3rd, 4th or 5th positions it is obvious from all three rankers that Audioboom are up there in the mix of the largest companies in the world.

Some excellent views and observations by MoneyMan and McSquares today.

2026 I know is shaping up very well and the whole Boom is excited about the coming year.

Good to have a new poster and investor in Forensic 505.

A little unusual, but in a good way, to have a good move in the half day’s trading today.

People wrapping up Boom shares in Christmas paper to give to their loved ones!

Incidentally those 15k trades midday on Friday look like switch in funds perhaps.

That’s certainly a way of looking at it A_E. Why would any company want to come off Triton Rankers. Podscribe look at analysis differently but both are important for a balanced view which is what we are looking for.

Share is back to price on 7th Oct around time of original offer announcement on 3rd Oct. This is despite the very best efforts of those trying to bring the price down and posting inaccurate and misleading comments

The issue is that the directors should present any offer to the shareholders for approval or otherwise. That’s their fiduciary duty. And they must be careful about this. There is probably a block of shareholders who would vote against a low ball offer. However, define low ball. In rejecting a bid the directors must be able to show the underlying profitability and growth as the alternative. My fear would be the way AIM works and I would say that a no deal would be risking a sharp reaction in the quoted price. We know that AIM do not look at fundamentals. It’s all about the opportunity to trade.

Couldn’t agree more BigShow. The Strategic Review was absolutely necessary. Each week there’s a deal or transaction in the podcast world. Audioboom have to be in the mix this time. They’ve got two good advisers with good US presence. This is not going to take too much longer if a deal is to be done.

Why do MM create such a big spread. Short of stock or too much on their books, or simply to curb trading.

There’s really no point in being childish with names. Also if you look I’ve been an investor since 2014 and I certainly haven’t been in a boiler room for over 10 years.

Of course make a comparison with iHeart but it’s mainly radio and you would have to strip out podcast sector to get separate valuations of the two businesses. I’m sure this has been done by advisers. Please go ahead and do that and let us know. iHeart is also strapped with debt giving it an Enterprise Value of $6.2bn.

A Quick Look at Warner Bros Discovery shows its Market Cap is $73bn with revenue of $38bn giving almost 2x. But this of course is not podcasting.

We can only do basic analysis with the public info available and try to and get to a value for Boom which could be a good indicator for those interested here.

Audioboom currently undervalued by 40% . And it’s in an offer period!

At £6.50 Audioboom’s Market Cap is £115m which is 1.6 x annual revenue. Compare this to ACAST which has a Market Cap of SEK 6b on revenue of SEK 2.4b being 2.5 x

There’s going to be an almighty correction soon. Minimum £10.