Audioboom Grp. Regulatory News (BOOM)

Audioboom Group plc

("AudioBoom" or the "Company")

Second Quarter Update

AudioBoom (AIM: BOOM), the leading spoken word audio on-demand platform, announces an update for the second quarter of the current financial year.

The Company's strong performance for the first quarter of the year continued in the second quarter resulting in revenue for the six months ended 31 May 2017 of at least £1,800,000, an increase of 447% over the comparable period in 2016 (H1 2016: £329,000).

Rob Proctor, CEO of AudioBoom, said: "I am particularly pleased to report that the operational momentum generated in 2016 is now beginning to translate into rapidly improving financial results, with a significant increase in revenue for the first half of the year to over £1.8 million. Our forward bookings provide us with confidence for the remainder of the year.

"The significant revenue increase compared to the first half of 2016 is driven by a broad range of growing KPIs, but most significant has been the growth in our US "live read" fill rates over the last few quarters, rising from under 20% in Q2 2016 to just over 70% in Q2 2017. Additionally, our sales team has done a tremendous job in increasing the Company's overall advertiser brand count from just under 10 at the end of Q2 2016, to just over 80 at the end of the last quarter.

"It is now clear that advertisers are increasingly looking towards on-demand spoken word platforms to reach younger audiences as well as to target the right demographics for their brands.

"Importantly from a shareholder perspective, the number of unique file requests (UFRs) continues its upward trajectory and the number of content channels using our services is increasing in both quantity and quality. We are now receiving at least 60 million UFRs per month with growth in the UK being spearheaded by success stories such as Untold: The Daniel Morgan Story and They Walk Among Us, a new wave of British True Crime podcasts, mirroring the success of US series such as Serial.

"I look forward to presenting a full review of the Company's financial performance for the six months to 31 May 2017 in the knowledge that the Company is well positioned to benefit as the podcast advertising industry matures." 

About AudioBoom

AudioBoom is a global podcasting platform that consolidates the business of on-demand audio, making content accessible, wide-reaching and profitable for podcasters, advertisers and brands. AudioBoom addresses the issue of disparate podcast services by putting all of the pieces of the puzzle together under one umbrella, creating a user-friendly, economical experience. AudioBoom helps content creators share their content via iTunes, iHeartRadio, Google Play, Saavn, Spotify, Stitcher, Facebook and Twitter, as well as their own websites and mobile apps.

AudioBoom hosts almost 12,000 channels, with key ones including the Associated Press, Trinity Mirror Group, BBC, celebrities such as Russell Brand, and more.

Top podcasts include Athletico Mince, News Roast, No Such Thing As A Fish, and Untold: The Murder of Daniel Morgan. AudioBoom receives over 60 million unique file requests per month and is the only end-to-end podcasting platform that also operates internationally, with offices across Europe, Asia, Australia and Latin America.

For more information for podcasters, advertisers and listeners, visit audioboom.com.