Audioboom Group plc
("Audioboom", the
"Group" or the "Company")
Flash August Trading
Update
35% revenue growth, strong adjusted
EBITDA profit, and record Showcase revenue
Ahead of the full third quarter trading update
scheduled for 15 October 2024, Audioboom (AIM: BOOM), the leading
global podcast company, is pleased to provide this flash view of
the Group's excellent performance in August 2024, with monthly
revenue expected to continue to grow in the remaining months of the
year. August 2024 highlights included:
· Revenue of US$6.0
million, up 35% on August
2023 (US$4.4 million). This followed on from July 2024 where
revenue was up 17% on July
2023
· Adjusted EBITDA
profit of US$0.3 million, up
$0.4m on August 2023 (adjusted EBITDA loss of US$0.1
million) and the highest monthly adjusted EBITDA profit since
November 2022
· Record monthly
revenue from Showcase, our global advertising marketplace, of
US$2.5 million, up 143% on
August 2023 (US$1.0 million)
· Global downloads
of 103 million - up from the Q2 2024 monthly average of 95 million,
highlighting the return to growth of the Audioboom Creator Network
following Apple's iOS17 update in late 2023 which impacted the
measurement of downloads across the industry
Stuart Last,
CEO of Audioboom, commented: "Audioboom continues to deliver
positive results in 2024 with momentum building as we enter our
strongest period of the year. Revenue growth of 35% in August 2024
(over August 2023) is incredibly pleasing and is driven by record
performance by Showcase - our scalable, tech-based advertising
marketplace. Showcase delivered US$2.5 million of revenue last
month - 143% growth versus the same period in
2023.
Showcase is
also our highest margin revenue line, and as a result of the
Showcase growth we delivered our highest monthly adjusted EBITDA
profit in almost two years of US$0.3m.
Across 2024
our download and advertising inventory levels have been impacted by
Apple's iOS17 update. I'm very pleased that in August our podcasts
were downloaded more than 103 million times, growing significantly
from our Q2 2024 average of 95 million. The Audioboom Creator
Network is expanding once more.
Q4 is always
our highest demand period due to the return of the NFL and the
English Premier League, as well as the US holiday season, and this
year it will be further boosted by the US election. I am extremely
optimistic about Audioboom's future, and I look forward to
providing an update on trading for the third quarter on 15 October
2024."
1) Earnings
before interest, tax, depreciation, amortisation, share based
payments, non-cash foreign exchange movements, material one-off
items and onerous contract provisions and losses
incurred
Enquiries
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Audioboom Group plc
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Stuart Last, Chief Executive
Officer
Brad Clarke, Chief Financial
Officer
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Tel: +44(0)20 3714 4285
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Cavendish Capital Markets Ltd (Nominated Adviser and
Broker)
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Jonny Franklin-Adams/Abigail
Kelly/Rory Sale (Corporate Finance)
Harriet Ward (ECM)
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Tel: +44(0)20 7220 0500
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About
Audioboom
Audioboom is a global leader in podcasting -
our shows are downloaded 100 million times each month by 38 million
unique listeners around the world. Audioboom is ranked as the fifth
largest podcast publisher in the US by Triton Digital.
Audioboom's ad-tech and monetisation platform
underpins a scalable content business that provides commercial,
distribution, marketing and production services for a premium
network of top tier podcasts. Key partners include the official
Formula 1 podcasts 'F1: Beyond the Grid' and 'F1 Nation', 'Casefile
True Crime' (US), 'True Crime Obsessed' (US), 'The Tim Dillon Show'
(US), 'No Such Thing As A Fish' (UK) and 'The Cycling Podcast'
(UK).
Audioboom operates internationally, with global
partnerships across North America, Europe, Asia and Australia. The
platform distributes content via Apple Podcasts, YouTube, Spotify,
Pandora, Amazon Music, Google Podcasts, iHeartRadio, Facebook and
Twitter as well as a partner's own websites and mobile
apps.
For more information, visit
audioboom.com.