RE: All The Way Down24 Jul 2022 22:44
From the FT Saturday 23 July 2022 says Audioboom Hold....
https://www.ft.com/content/15997658-9af9-43da-bf90-5613fbcb8666
Global monthly downloads are up 35 per cent year on year at the Aim-traded audio and podcasting distribution platform, writes Jemma Slingo.
AudioBoom seems to be doing everything right. The Aim-traded company has an inventive business model, connecting podcasters with advertisers, distributing shows across a variety of platforms and producing its own content.
Podcasts are now big business, and the group is growing fast. Global monthly downloads have risen by 35 per cent over the past year and revenue almost doubled in the past six months. This helped it to achieve adjusted Ebitda of $2mn (£1.66mn), up from $0.2mn in 2021.
Gross profit margins have shrunk slightly, from 22 per cent in December 2021 to 20 per cent in 2022. This is not necessarily alarming, however. The group has a mix of revenue streams, contributing a wide range of gross margins. Its production arm, AudioBoom Studios, for example, contributed a 31 per cent gross margin in 2022, and management said this will be a “key area of focus” going forwards. In contrast, the growth of “sonic influencer marketing” — which has a margin of just 10 per cent — has affected group-wide figures...........