Audioboom Revenue Up, Losses Narrow For First Half 2019

First Half Results

AUDIOBOOM 2019 half-year revenue increased 171% year-to-year to $9.8 million, cutting its Adjusted EBITDA loss almost in half to $1.4 million and its overall loss from $5.2 million to $2.8 million. Revenue per 1,000 listens (eCPM) rose 51% to $26.38; the number of brand advertisers using AUDIOBOOM podcasts jumped 63% to 212.

CEO ROB PROCTOR said, “We are delighted with the Company’s performance during this period, with strong progress in every area of the business. Revenue growth of 171% on H1 last year is over four times that forecast by the IAB for the US podcast advertising industry from 2018 to 2019. This in turn is driving significant improvements for the Company in its journey to profitability. With gross margin tracking to plan and overheads remaining under tight control, we are now starting to see the impact of our improved operational gearing.

"With a record 135 million individuals listening to at least one AUDIOBOOM podcast in June 2019, the Company’s global reach presents many possibilities within the digital marketplace. This platform will create new commercial opportunities as podcasting and audio continue to attract global investors.  Forward sales for H2 2019 are already at record levels and I anticipate continued strong performance for the second half of this year. Content creators and advertisers continue to join our global platform, and I look forward to updating shareholders with future developments during H2.”

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