RNS Number : 6015M

Audioboom Group PLC

24 May 2022

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

Audioboom (AIM: BOOM), the leading global podcast company, notes the recent share price movement and is pleased to announce continued strong trading. Highlights relating to April 2022 include:

   -      Revenue of US$7.1 million (April 2021: US$3.8 million), up 86% 
   -      Adjusted EBITDA([1]) profit of US$0.5 million (April 2021: US$0.05 million) 
   -      Group cash as at 30 April 2022 of US$4.4 million (31 March 2022: US$3.1 million) 

- Global monthly downloads increased to a record 131.9 million, up 44% on April 2021 (91.4 million)

   -      Brand advertiser count of 378, up 24% on April 2021 (306) 

- Average global revenue per 1,000 downloads (eCPM) increased to US$53.91, up 22% (April 2021: US$29.04)

Sales momentum has continued strongly into the second quarter, with the Company having contracted revenue in excess of US$66 million for 2022 through advance advertising bookings, with US$5.5 million of advance bookings added since the Trading Update on 11 April 2022.

Stuart Last, CEO of Audioboom, commented: "Audioboom's excellent trading performance has continued into the second quarter of 2022, culminating with April delivering strong revenue and adjusted EBITDA profit. We have continued to see high advertiser demand, with booked revenue of US$66 million giving us good confidence for the year ahead."

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 
  (Corporate Finance) 
  Richard Chambers/Harriet Ward (ECM) 

About Audioboom

Audioboom Group plc ("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 Australasia. 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) Dow Jones Newswires

May 24, 2022 05:10 ET (09:10 GMT)

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