TIDMBOOM
RNS Number : 8651H
Audioboom Group PLC
11 April 2022
This announcement contains inside information as stipulated
under the UK Market Abuse Regulations ("MAR").
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Q1 Trading Update
107% revenue growth and record Q1 adjusted EBITDA profit
2022 contracted revenue of US$60.5m surpasses total 2021
revenue
Audioboom (AIM: BOOM), the leading global podcast company, is
pleased to provide a trading update for the quarter ended 31 March
2022.
Financial and operating highlights
-- Record Q1 revenue of US$19.7 million, up 107% on Q1 2021 (US$9.5 million)
-- Record Q1 adjusted EBITDA(1) profit of US$0.9 million (Q1 2021: US$0.03 million)
-- Average global monthly downloads increased for the ninth
successive quarter to 126.2 million, up 45% on Q1 2021 (87.1
million). Global downloads in March 2022 reached a record 131.0
million
-- Average brand advertiser count of 379, up 26% on Q1 2021 (301)
-- Average global revenue per 1,000 downloads (eCPM) increased
to US$50.48, up 25% (Q1 2021: US$40.55)
-- Group cash of US$3.3 million (31 December 2021: US$3.0 million)
-- The Company continues to manage its balance sheet efficiently
and utilise its working capital very effectively. As a reference it
has collected US$2.9 million to date in April
-- The Company has contracted revenue in excess of US$60.5
million for 2022 through advance advertising bookings, surpassing
total full year 2021 revenue (US$60.2 million)
Key Q1 2022 commercial developments
-- Continued growth of Showcase, our global advertising
marketplace - revenue from advertising technology in Q1 2022 more
than 150% greater than in Q1 2021, and now contributing more than
11% to Group revenue
-- Strong pricing due to robust advertising demand, with an
Average Unit Rate (AUR) during the quarter for our top 25 podcasts
at US$14,295 vs Q1 2021's AUR of US$6,455
-- Further expansion of Audioboom Studios with new title
launches including National Park After Dark, Can I Get In Your
Pantry?, and Devils in the Dark, which reached number 1 on the UK
True Crime podcast chart and the Top 15 of Apple's overall podcast
chart
-- Long-term renewal of key content partnerships in our Premium
Network, including Casefile True Crime, Mile Higher, Strange &
Unexplained, Lights Out and The Sesh
-- Launch of a new strategic partnership with leading radio and
media company NZME to monetise Audioboom's advertising inventory in
New Zealand
Stuart Last, CEO of Audioboom, commented: "I am delighted to
report that our fast growth has continued into 2022, further
increasing our market share, deepening our work with our creators,
expanding our options for advertisers, and achieving success for
our original programming.
KPIs remained strong in a quarter which is traditionally quieter
for ad spend, while the continued strong growth in global downloads
gives us further confidence in the continued trajectory, both of
the industry and our place within it. That demand has also enabled
us to secure more than US$60.5m of advertising bookings for 2022 -
already more than the entirety of our 2021 revenue. Furthermore,
our unique ad model, which delivers high performance for brands,
has seen strong uptake, enabling us to achieve record pricing
across key inventory.
Our investment in Audioboom Studios - our creative and
production arm - is already being recognised, most notably with the
successful launch of Devils in the Dark, our first original show
for a UK audience. Devils in the Dark reached number 1 on the UK
True Crime chart and the top 15 of Apple's overall podcast chart
upon release.
We continue our quest to build the world's leading podcasting
business and look ahead to an exciting year of further growth,
profitability and creating strong shareholder value."
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 Tel: +44(0)20 3714
Brad Clarke, Chief Financial Officer 4285
finnCap Ltd (Nominated Adviser and Broker)
Jonny Franklin-Adams/Abigail Kelly/Milesh Hindocha Tel: +44(0)20 7220
(Corporate Finance) 0500
Richard Chambers/Harriet Ward (ECM)
About Audioboom
Audioboom is a global leader in podcasting - our shows are
downloaded more than 126 million times each month by 34 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.
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END
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