Audioboom Sees Revenue Increase For First Half Of Year

Revenue Up

AUDIOBOOM unaudited half yearly revenue figures increased 43% year-to-year to £2.6 million for the six months ending MAY 31st.  In its report to the LONDON STOCK EXCHANGE, the podcasting company touted growth in several "key performance indicators," including unique file requests up from 325 million to 372 million, monthly unique users for MAY up from 81 million to 87 million, available ad impressions up from 789 million to 1,241 million, and content partner channels increasing from 11,843 to 14,566. 

The company also said that it has 1,577 paid subscribers to its U.S. $9.99/month service, up 43% between the end of first quarter and the end of second quarter, with U.S. revenue per 1,000 listens (eCPM) now at $19.02, up 33% from first quarter.

CEO ROB PROCTOR said, "These results have been achieved despite the considerable distraction of the aborted TRITON deal. It bodes well for the rest of 2018 and beyond that we are now solely focused on turning AUDIOBOOM into the pre-eminent podcasting platform.

"AUDIOBOOM generated a 43% increase in revenue over the same period last year and expects substantial further increases in H2 due to the rapid growth in AUDIOBOOM Original Network podcasts, major new podcast signings and subscription fees. The underlying EBITDA loss also decreased over the period.   As we progress through the second half of the year, we are confident that the combination of increased revenues and our continued focus on tight cost control will further benefit the Group.

"The Board believes the recent £5.6 million of funding received through convertible loan notes and a placing and subscription will be sufficient to see the Company through to positive cash generation.

"Visibility for advertising campaigns for Q3 and Q4 is strong and the Board believes revenue for the full year will be in line with current market expectations, underpinned by a brand count that is more than twice what it was this time last year and with greatly increased available ad inventory."

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