Trading Update

RNS Number : 3648W

Audioboom Group PLC

23 April 2021

 

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 forecasts

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to announce that it has continued its strong sales momentum, with signed advertising bookings for the year now representing more than 95% of the recently upwardly revised market forecast for revenue in 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 the 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:

-  A high volume of new advertising bookings since Audioboom's Q3 2021 advertising inventory for its Top 25 shows was made available to customers at the beginning of April 2021

-  The successful launch on 1 April 2021 of Dark Air with Terry Carnation in the Audioboom Originals Network. Advertiser demand for Dark Air enabled more than 90% of its advertising inventory to be sold before the podcast premiered

-  Continued audience growth, highlighted in the April 2021 Triton Digital Podcast Report, in which Audioboom remained the fourth largest podcast publisher in the US, by weekly reach

-  Strong advertising demand with an average fill rate of more than 85% across Audioboom's Top 50 shows

Enquiries

Audioboom Group plc
Stuart Last, Chief Executive Officer Brad Clarke, Chief Financial Officer	Tel: [phone]
Allenby Capital Limited (Nominated Adviser and Broker)	Tel: [phone]
David Hart / Alex Brearley (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)

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.

 

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