Audioboom Group PLC Trading Update
RNS Number : 8087V
Audioboom Group PLC
16 December 2021
This announcement contains inside information as stipulated
under the UK Market Abuse Regulations ("MAR").
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Full year 2021 trading expected to be significantly ahead of
current market expectations
Audioboom (AIM: BOOM), the leading global podcast company, is
pleased to announce that it has continued its strong momentum into
the fourth quarter of 2021 and the Board now expects that Audioboom
will generate significantly increased adjusted EBITDA(1) , and
marginally improved revenue, ahead of current market expectations
for the year.
This performance has been driven by further development of the
Audioboom technology platform, and the continued focus on the
Company's content expansion plan. Key drivers of success during Q4
have been: high advertiser demand for premium content; strong
audience growth globally; and, following the November launch of
SHOWCASE, increased revenue from ad tech via our global
The Board expects to provide a full 2021 year-end trading update
on 19 January 2022, ahead of audited results for the year in March
Stuart Last, CEO of Audioboom, commented: "We launched SHOWCASE
just six weeks ago and it is already having a positive impact on
our business; we look forward to building on this initial success
to grow it into a meaningful revenue stream for Audioboom. We are
also seeing a continuation of rapid growth in podcast listening
across the network in the fourth quarter, plus high advertiser
demand for our premium content. We are delivering a strong end to
an already transformative year for Audioboom in which market
expectations have been upgraded six times."
1) Earnings before interest, tax, depreciation, amortisation,
share based payments, non-cash foreign exchange movements and
material one-off items
Audioboom Group plc
Stuart Last, Chief Executive Officer Tel: +44(0)300 303
Brad Clarke, Chief Financial Officer 3765
finnCap Ltd (Nominated Adviser and Broker) Tel: +44(0)20 7220
Jonny Franklin-Adams/Abigail Kelly/Milesh Hindocha
Richard Chambers/Harriet Ward (ECM)
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).
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.
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 firstname.lastname@example.org 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
(END) Dow Jones Newswires
December 16, 2021 02:00 ET (07:00 GMT)
Historical Stock Chart
From Apr 2022 to May 2022
Historical Stock Chart
From May 2021 to May 2022