Audioboom Group PLC Trading Update (3648W)
April 23 2021 - 01:00AM
UK Regulatory
TIDMBOOM
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 Tel: +44(0)300 303
Brad Clarke, Chief Financial Officer 3765
Allenby Capital Limited (Nominated Adviser Tel: +44(0)20 3328
and Broker) 5656
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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END
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April 23, 2021 02:00 ET (06:00 GMT)
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