Last checked at 16 Dec 2021 07:00
This announcement contains inside information as stipulated under the UK Market Abuse Regulations ("MAR").
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Trading Update
Full year 2021 trading expected to be significantly ahead of current market expectations
Audioboom (AIM: BOOM), the leading global podcast company, is pleased to announce that it has continued its strong momentum into the fourth quarter of 2021 and the Board now expects that Audioboom will generate significantly increased adjusted EBITDA(1), and marginally improved revenue, ahead of current market expectations for the year.
This performance has been driven by further development of the Audioboom technology platform, and the continued focus on the Company's content expansion plan. Key drivers of success during Q4 have been: high advertiser demand for premium content; strong audience growth globally; and, following the November launch of SHOWCASE, increased revenue from ad tech via our global marketplace.
The Board expects to provide a full 2021 year-end trading update on 19 January 2022, ahead of audited results for the year in March 2022.
Stuart Last, CEO of Audioboom, commented: "We launched SHOWCASE just six weeks ago and it is already having a positive impact on our business; we look forward to building on this initial success to grow it into a meaningful revenue stream for Audioboom. We are also seeing a continuation of rapid growth in podcast listening across the network in the fourth quarter, plus high advertiser demand for our premium content. We are delivering a strong end to an already transformative year for Audioboom in which market expectations have been upgraded six times."
1) Earnings before interest, tax, depreciation, amortisation, share based payments, non-cash foreign exchange movements and material one-off items
Enquiries
Audioboom Group plc | |
Stuart Last, Chief Executive Officer Brad Clarke, Chief Financial Officer
| Tel: +44(0)300 303 3765
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finnCap Ltd (Nominated Adviser and Broker) | Tel: +44(0)20 7220 0500 |
Jonny Franklin-Adams/Abigail Kelly/Milesh Hindocha (Corporate Finance) Richard Chambers/Harriet Ward (ECM)
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About Audioboom
Audioboom is a global leader in podcasting - our shows are downloaded more than 100 million times each month by 30 million unique listeners around the world. Audioboom is ranked as the fourth largest podcast publisher in the US by Triton Digital.
Audioboom's ad-tech and monetisation platform underpins a scalable content business that provides commercial services for a premium network of 250 top tier podcasts, with key partners including 'Casefile True Crime' (US), 'Morbid' (US), 'True Crime Obsessed' (US), 'The Morning Toast' (US), 'No Such Thing As A Fish' (UK), and 'The Cycling Podcast' (UK).
The Audioboom Originals Network is a slate of content developed and produced by Audioboom including 'Dark Air with Terry Carnation', 'RELAX!', 'Baby Mamas No Dramas', 'Covert', 'It's Happening with Snooki & Joey', 'Mafia', 'Huddled Masses' and 'What Makes A Killer'.
Audioboom operates internationally, with operations and global partnerships across North America, Europe, Asia and Australia. The platform allows content to be distributed via Apple Podcasts, Spotify, Pandora, Amazon Music, Deezer, Google Podcasts, iHeartRadio, RadioPublic, Saavn, Stitcher, Facebook and Twitter as well as a partner's own websites and mobile apps.
For more information, visit audioboom.com.