TIDMBOOM
RNS Number : 8614O
Audioboom Group PLC
13 October 2021
This announcement contains inside information as stipulated
under the UK Market Abuse Regulations ("MAR").
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Q3 Trading Update
Record quarterly performance; 161% revenue growth and
significantly increased adjusted EBITDA profit
Trading for FY 2021 expected to be significantly ahead of market
expectations
Audioboom (AIM: BOOM), the leading global podcast company, is
pleased to provide a trading update for the quarter ended 30
September 2021.
Financial and operating highlights
-- Record quarterly revenue of US$16.9 million, up 161% on Q3
2020 (US$6.5 million) and up 28% on Q2 2021 (US$13.2 million)
-- Total revenue for the nine months to 30 September of US$39.7
million, up 117% on the same period last year (US$18.3 million).
Year-on-year growth for the nine months to 30 September outpaced
the annual predicted wider industry average by 95%((1)
-- Quarterly adjusted EBITDA(2) profit of US$1.0 million (Q3 2020: US$0.3 million loss)
-- Period end adjusted EBITDA(2) profit of US$1.2 million (nine
months to 30 September 2020: US$1.6 million loss) with the Company
recording positive adjusted EBITDA(2) for every month in 2021
-- Average global monthly downloads increased to 99.1 million,
up 27% on Q3 2020 (77.9 million). Global downloads in September
2021 reached a record 107.7 million
-- Average brand advertiser count of 370 up 49% on Q3 2020 (248)
-- Average global revenue per 1,000 downloads (eCPM) increased
to US$54.77, up 81% (Q3 2020: US$30.32)
-- Access to capital of US$4.5 million as at 30 September 2021,
represented by Group cash of US$1.2 million and US$3.3 million of
the non-revolving SPV loan facility remaining undrawn
-- The Company continues to manage its balance sheet efficiently
and utilise its available working capital very effectively. As a
reference it has collected in excess of US$3.0m to date in
October
-- The Board now expects that Audioboom will generate revenues
in excess of current market expectations for the 2021 financial
year and a significantly increased adjusted EBITDA relative to
these market expectations
Key recent commercial developments
-- Launch of Audioboom's UK production operation, as part of the
Company's recently rebranded Audioboom Studios production arm. UK
shows include the debut of The FBoy Podcast and the upcoming
premiere of Methods of Murder. A further six shows are in
development for launch in 2022
-- Increased premium advertising inventory from new major
content initiatives announced recently including: The Way I Heard
It with Mike Rowe, RedHanded, 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
-- Growth in back catalogue inventory created by Audioboom's
proprietary AdRip tool, which has been monetised through sustained
growth in ad-tech related revenue
Stuart Last, CEO of Audioboom, commented: "Q3 2021 was another
period of stellar performance for Audioboom as, once again, we
significantly outpaced the growth of the wider podcast industry and
set new revenue and adjusted EBITDA records. Our content-focused
expansion strategy continued to drive download and ad inventory
levels to new highs.
While our core revenue streams expand at pace, I am delighted
with the progress we are making through our investments in
production and ad tech.
Audioboom Studios is the new name for all of our creative
services, including our co-production partnerships and original
show development. The launch of a UK-focused production arm under
our Studios banner is a big step forward in our goal of becoming
the leading UK podcast creator.
The adoption of our recently released AdRip tool by our podcast
partners is leading to strong growth in revenue associated with our
ad tech. We continue to invest in new sales initiatives ahead of
the launch of our advertising marketplace in Q4 2021.
Advertising bookings and pricing for the final quarter are
strong, while we are also seeing high demand for our 2022
inventory, setting us up for continued growth and enhanced
shareholder value."
1) Interactive Advertising Bureau's May 2021 Podcast Advertising
Revenue Study states that US podcast advertising revenue is
expected to grow by 60% in 2021 relative to 2020
2) Earnings before interest, tax, depreciation, amortisation,
share based payments, non-cash foreign exchange movements and
material one-off items
Enquiries
Audioboom Group plc Tel: +44(0)300 303
3765
Stuart Last, Chief Executive Officer
Brad Clarke, Chief Financial Officer
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 100 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).
Audioboom Studios is home to a slate of content developed and
produced by Audioboom including 'Dark Air with Terry Carnation',
'F1: Beyond The Grid', 'RELAX!', '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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTBRBDGIBBDGBD
(END) Dow Jones Newswires
October 13, 2021 02:00 ET (06:00 GMT)
Audioboom (LSE:BOOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Audioboom (LSE:BOOM)
Historical Stock Chart
From Apr 2023 to Apr 2024