Investment in Audioboom

RNS Number : 6508F

YOLO Leisure & Technology PLC

23 February 2015

 

23 February 2015

YOLO Leisure and Technology plc

("YOLO" or the "Company")

£250,000 Investment in Audioboom Group plc ("Audioboom")

YOLO (AIM:YOLO), the AIM listed company investing in leisure and technology, announces that it has invested £244,977.80 in cash to acquire 2.5m shares in Audioboom (AIM: BOOM), representing 0.47% of the issued share capital of the company.

Audioboom is the leading spoken-word audio on-demand mobile platform, which aims to provide the very best spoken-word content in news, current affairs, business, entertainment and sports (see www.audioboom.com).  Audioboom is using this platform to create the world's first aggregated audio content syndication and advertising network.  The company has established a platform for accelerated future growth and long term revenue generation through continued growth in its active userbase and content partners.  Audioboom is using this platform to create the world's first aggregated audio content syndication and advertising network.

Selected Audioboom year end highlights:

·     continued growth in 3.14m registered users, up 64% on same time last year (Nov 2013: 1.92m), now at 3.4m users;

·     over 2,000 content partners (Nov 2013: 297), now at 2,300;

·     year-end cash balance of £8.9m following oversubscribed placing in October 2014;

·     advertising revenues to come from media sales deals with Global Radio (UK) and AdLarge Media (US);

·     revenue referral agreement with Audible, a subsidiary of Amazon.com; and

·     partnership to make on-demand and listen again functionality available to radio stations utilising the Nobex mobile app platform.

Simon Robinson, CEO of YOLO, commented: "We are very pleased to have taken a strategic investment into Audioboom, on the basis that the business has strong growth and value potential within the global mobile audio and streaming sector. As the leading spoken-word audio on-demand mobile platform, Audioboom is well positioned to establish a global userbase of listeners covering sport, news, business, entertainment and current affairs."

"This is our third investment after eSports business Gfinity and over the top (OTT) broadcaster Simplestream."

For further information please contact:

YOLO Leisure and Technology plc		www.yoloplc.com
Simon Robinson		[e-mail]
Cairn Financial Advisers LLP
Sandy Jamieson		Tel: [phone]
Peterhouse Corporate Finance Limited Sole broker
Eran Zucker / Lucy Williams		Tel: + 44 20 7469 0930
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus		Mob: [phone]
Sam Allen		Mob: [phone]

Notes to editors

YOLO Leisure and Technology plc

YOLO Leisure and Technology plc aims to focus on opportunities in the travel, technology and leisure sectors. The Company's Investing Policy is that the Company will invest in businesses which have some or all of the following characteristics:

•      strong management with a proven track record;

•      ready for investment without the need for material re-structuring by the Company;

•      generating positive cash flows or imminently likely to do so;

•      via an injection of new finances or specialist management, the Company can enhance the prospects and  therefore the future value of the investment;

•      able to benefit from the Directors existing network of contacts; and

•      the potential to deliver significant returns for the Company.

About Audioboom (www.audioboom.com)

Audioboom Group plc is a digital, on-demand, streaming audio platform enabling the creation, broadcast and consumption of audio across multiple global media outlets. Audioboom works with some of the biggest names in broadcasting across sport, entertainment and current affairs to bring their content to millions of listeners worldwide via Facebook, Twitter and other media platforms.

The technology allows partners to embed playlists onto their sites and apps, use our mobile apps and functionality as listen again players and re-syndicate their content around the web.

Audioboom also allows the monetisation of audio via the dynamic insertion of pre and post roll advertising into content as a user is listening, allowing contemporary advertising selection, depending on content genre and geographic location of the user.

Audioboom currently has over 2,300 content partners, including the BBC, Telegraph, Guardian, CBS, Sky Sports, Sky News Radio, Premier League, Southern Cross Austereo, Reuters, CNBC, Universal and Fox.

 

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