Agreement with Audible

RNS Number : 7063Z

Audioboom Group PLC

15 December 2014

 



15 December 2014

Audioboom Group plc

("Audioboom")

Agreement with Audible

Audioboom (AIM: BOOM), the digital social media platform, has agreed a content deal with Audible Limited ("Audible"). Audible, a subsidiary of Amazon.com Inc, is the world's largest audio entertainment company, with over 1,500,000 hours of content, including digital audiobooks, radio and TV programmes, and audio versions of magazines and newspapers.

Audioboom's new apps have an algorithm that learns a user's likes and tailors content delivery accordingly, allowing the creation of favourites, follows and playlists.  This allows the showcasing of Audible content as part of the automated 'feed' of audio delivered on a genre-by-genre, region-by-region basis. Initially Audioboom will carry the latest releases and bestselling titles from Audible each month and will subsequently list all the relevant titles within the Audible portfolio.

Once the user has listened to a free sample of an audiobook, they can click directly through to Audible and register for a free trial and receive their free title as a reward. In addition, Audioboom has created a dedicated audiobook category within its apps and website, allowing users to browse bestsellers from different content genres, play samples and click straight through to Audible to register for an account.

Audible has a well-established affiliate programme that fits ideally into Audioboom's architecture. Audioboom will receive an upfront payment for every user that registers to Audible through Audioboom and an on-going percentage of retail sales from that subscriber on an ongoing basis via the Audible affiliate programme.  The better Audioboom's recommendation engine works and the faster its user base grows, then the more revenue will be generated.

Rob Proctor, CEO of Audioboom, commented, "Audible is by some way the world leader in audiobooks and we are delighted to have signed this agreement with them. It shows the potential of the Audioboom platform to promote exceptional content and our ability to monetise our rapidly growing user base.

"We continue to work on a number of other agreements with global companies in order to generate significant new user numbers but also accelerate the platform's revenue generating capabilities. Whilst I am delighted with the progress we are making on our key revenue source - the roll out of our aggregated audio advertising network - it is particularly pleasing that this separate, non-advertising based revenue stream is now coming through."

Enquiries:

Audioboom Group plc	www.audioboomplc.com
Rob Proctor, CEO	Tel: [phone]
Arden Partners plc	Tel: [phone]
Chris Hardie / Ciaran Walsh, Corporate Finance
Walbrook PR	Tel: [phone] or [e-mail]
Sam Allen	Mob: [phone]
Paul McManus	Mob: [phone]

About Audioboom (www.audioboom.com)

Audioboom Group plc is a SaaS based digital social media 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 has over 1,600 content partners, including the BBC, Telegraph, Guardian, CBS, Sky Sports, Premier League, Southern Cross Austereo, Reuters, CNBC, Universal andFox.

 

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