Trading Update

RNS Number : 5408L

Audioboom Group PLC

13 September 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

Trading for FY 2021 expected to be significantly ahead of Board's expectations

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to announce that it has continued its strong sales momentum and, in light of this and the Group's trading and the prospects for the months ahead, the Board now expects that Audioboom will generate revenues for the year ending 31 December 2021 significantly in excess of the Board's expectations at the time of the Company's half year results and an increased adjusted EBITDA^[1] profit.

This performance has been driven by continued strong performance in relation to Audioboom's content-focused expansion plan. Highlights include:

· Increased premium advertising inventory from new major content partnerships and Audioboom Originals announced previously in 2021, including; Dark History, Unfiltered and The Fantasy Footballers

·Increased demand and strong pricing during major events, including the start of the US NFL season, Premier League football and the F1 season

·Increased back catalogue inventory created by Audioboom's proprietary AdRip tool, which has been monetised through sustained growth in ad-tech related revenue

Audioboom also notes the Group's outstanding performance in August 2021, which resulted in record performance across all metrics. Highlights included:

· Record unaudited monthly revenue of US$7.0 million (August 2020: US$2.4 million), up 187%

· Record unaudited monthly adjusted EBITDA^[1] profit of US$0.5 million (August 2020: US$0.2 million loss)

· Global monthly downloads increased to a record 98.9 million, up 29% on August 2020 (76.6 million)

· Brand advertiser count increased to a record of 371, up 45% on August 2020 (255)

· Average global revenue per 1,000 downloads (eCPM) increased to a record of US$63.83, up 120% on August 2020 (US$29.04)

Stuart Last, CEO of Audioboom, commented: "Audioboom's excellent performance has continued through 2021 as we execute our content-focused expansion plan. I am pleased that we continue to generate strong demand for our premium sales network, while our new ad tech tool AdRip is now delivering material value to the vast back catalogue of content on our platform. We are focused on ensuring 2021 continues to deliver even more success."

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: [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 98 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.

 

END

 

 

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