Audioboom Sees Revenue, Profits Rise In First Quarter 2021

Strong Quarter

AUDIOBOOM first quarter 2021 revenue jumped 49% year-to-year to $9.5 million, with adjusted EBITDA of $300,000, up from a $500,000 loss in 2020. The company reported average global monthly downloads up 37% to 87.1 million, with MARCH 2021 hitting 91.6 million. Average global revenue per 1,000 downloads (eCPM) increased 14% to $40.55.

CEO STUART LAST said, “Q1 2021 was a breakthrough period for AUDIOBOOM, reaching adjusted EBITDA profitability for the first time and demonstrating the strength of our business model. I am delighted with our revenue performance and continued cost control. It is important to note that the 49% year-on-year revenue growth we have delivered is benchmarked against the one quarter in 2020 that was not significantly impacted by COVID-19.

"Our record performance is driven by our content focused expansion strategy. New content partnerships and successful AUDIOBOOM ORIGINALS NETWORK launches delivered strong growth in our Global Downloads key performance indicator, with more than 90 million downloads in MARCH. As a result, AUDIOBOOM became the fourth largest podcast publisher by number of average weekly users in the US on the TRITON DIGITAL ranker.

"This positive momentum has continued into the second quarter with the Company signing advertising bookings representing more than 90% of the existing market forecast for 2021 group revenue.  

"Achieving adjusted EBITDA profitability for the quarter is an important milestone for AUDIOBOOM. We are now focused on ensuring 2021 continues to deliver even more success and even more value to our shareholders.”

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