Last checked at 22 Jun 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
Revenue 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 sales momentum, with signed advertising bookings after less than six months of this year now representing more than 99% of the recently upwardly revised market expectations for revenues for the year ending 31 December 2021.
In light of this continued strong trading, and the prospects for the months ahead, the Board now expects that Audioboom will generate revenues significantly in excess of current market expectations for the year and an increased adjusted EBITDA.
This performance has been driven by recent developments in relation to Audioboom's content- focused expansion plan. Highlights include:
- Continued expansion of Audioboom's ad tech capabilities and associated revenue streams, enabling the re-monetisation of the network's extensive back catalogue of content
- High demand for premium advertising inventory which has enabled the Company to increase average ad unit pricing by 22% versus 2020, while achieving a greater than 97% fill rate on Audioboom's top 15 shows
- Successful Audioboom Originals Network (AON) launches including Dark Air with Terry Carnation, The Southern Tea, and Dark History - a show which hit number 1 on the Apple Podcast Chart in the US, UK, Canada and Australia following its launch on 2 June 2021. Episode 1 of Dark History has received more than 2 million listens
- Continued audience growth through new content partnerships and AON launches, highlighted in the June 2021 Triton Digital Podcast Report, in which Audioboom remained the fourth largest podcast publisher in the US, by weekly reach, while growing its weekly reach by 69% on the same period in 2020 as per the latest report
The Board is also pleased to note that with effect from 27 May 2021, Audioboom has been included in the MSCI Micro-Cap Index.
The Company will announce its interim results for the six-month period ending 30 June 2021 on 20 July 2021.
Enquiries
Audioboom Group plc |
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Stuart Last, Chief Executive Officer Brad Clarke, Chief Financial Officer
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Allenby Capital Limited (Nominated Adviser and Broker) | Tel: +44(0)20 3328 5656 |
David Hart / Alex Brearley (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)
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About Audioboom
Audioboom is a global leader in podcasting - our shows are downloaded more than 91 million times each month by 25 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. For more information, visit audioboom.com. 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.