TIDMBOOM
RNS Number : 9128U
Audioboom Group PLC
03 April 2019
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Q1 Trading Update
Record quarterly revenue of US$4.6 million
Audioboom (AIM: BOOM), the leading global podcast company, is
pleased to provide an update on trading for the quarter ended 31
March 2019.
Financial and Operating Highlights*
-- Trading ahead of management expectations with record
quarterly revenue of c.US$4.6 million, up 180% on Q1 2018 (US$1.6
million)
-- Brand advertiser count of 178 as at 31 March 2019, up 11% on
last quarter (31 December 2018: 160) and up 55% on the same period
last year (31 March 2018: 115)
-- Revenue per 1,000 listens in the US (eCPM) at US$23.77, up
67% on same quarter last year (Q1 2018: US$14.27)
-- Total available premium advertising impressions was 305
million, up 28% from same period last year (Q1 2018: 239
million)
-- Cash position as of 31 March 2019 remains stable at US$1.7
million (31 December 2018: US$1.6 million), with the net proceeds
of February 2019's GBP1.5 million subscription already utilised in
line with the stated use of proceeds to secure existing and new
leading podcasting talent and shows, which are expected to further
improve the Group's performance over the course of the year and
beyond
*The financial period ended 31 December 2018 was a 13 month
period. In order to provide appropriate like-for-like comparisons,
the Q1 and Q4 2018 comparable periods referred to herein are 1
January - 31 March 2018 and 1 October - 31 December 2018
respectively
Key contract wins and renewals
-- Key contract renewals include podcast network SBI Audio (a 2
year agreement through to April 2021), true crime podcast
"Undisclosed" (1 year agreement through to February 2020), and
"True Crime Obsessed" (2 year agreement through to March 2021)
-- Renewals of Audioboom Original Network (AON) shows include
"F1: Beyond The Grid" (a 2 year agreement through to February
2021), "Covert" (season 2) and "Mafia" (season 3). The first
episode of the new season of "F1: Beyond the Grid" already has
approximately 400,000 listens, up over 200% on the final episode of
the 2018 season
-- New shows signed during Q1 include:
o Genius Brain
o You Can Sip With Us
o What Happened When
o Chilling Tales for Dark Nights
o Small Town Dicks
o The Influencer Podcast
o What's good with Rudolph and Minister
o The Evidence Locker
o Sunday Vibes: Extra Time
o Out to Lunch with Jay Rayner
o Alien Nation with Jo Wood
Other key developments
-- Enhanced global commercial agreement signed with Spotify
-- New agreement and integration with Spotify India
-- Strong pipeline of content acqusition and other opportunities
Rob Proctor, CEO of Audioboom, commented: "We are delighted with
our start to 2019. We have signed great new podcasts during Q1, are
making compelling new content, F1: Beyond the Grid is performing
exceptionally well, and we have industry leading sell through
rates. Podcasting is now the growth sector in digital media for
brands and broadcasters looking to consolidate or add podcast
creation and content to their platforms and we are involved in more
content negotiations and commercial opportunities than ever before.
We are ideally positioned to benefit from this; and the continued
corporate activity within the sector demonstrates Audioboom's
potential to deliver significant shareholder value this year".
Enquiries
Audioboom Group plc
Rob Proctor, Chief Executive Officer Tel: +44(0)20 7403
6688
Allenby Capital Limited (Nominated adviser Tel: +44(0)20 3328
and Joint Broker) 5656
David Hart /Alex Brearley/Asha Chotai
Novum Securities (Joint Broker) Tel: +44(0)20 7399
9400
Colin Rowbury/Jon Belliss
Walbrook PR Limited (PR & IR Advisers) Tel: +44(0)20 7933
8780
Paul Cornelius / Sam Allen or audioboom@walbrookpr.com
About Audioboom
Audioboom is the leading global podcast company, consolidating
the business of on-demand audio, making content accessible,
wide-reaching and profitable for podcasters, advertisers and
brands. Audioboom operates internationally, with operations and
global partnerships across North America, Europe, Asia and
Australia, and addresses the issue of disparate podcast services by
putting all of the pieces of the puzzle together under one
umbrella, creating a user-friendly, economical experience.
Audioboom hosts over 13,000 content channels, with key partners
including A+E Networks (US), Associated Press (US), 'Astonishing
Legends' (US), 'Casefile True Crime' (AUS), Edith Bowman (UK),
'Felon True Crime Podcast' (AUS), Jonathan Ross (UK), 'Moneycontrol
Podcast' (India), 'No Such Thing As A Fish' (UK), Red FM (India),
Starburns Audio (US), 'The Cycling Podcast' (UK), 'The Totally
Football Show' (UK), 'The True Geordie Podcast' (UK) and
'Undisclosed' (US).
Original content produced by Audioboom includes 'The 45th' (US),
'Covert' (US), 'I Almost Knew That' (India), 'The Psychology Behind
with Dr Linda Papadopoulos' (UK), 'Ctrl Alt Win Podcast' (India),
'Deliberations' (US), 'It's Happening with Snooki & Joey' (US),
'Mafia' (US), 'Mission To Zyxx' (US),' Night Call' (US) and 'The
Russell Brand Podcast' (UK).
The platform receives over 60 million listens per month and
allows partners to share their content via Apple Podcasts,
BookMyShow, Deezer, Google Podcasts, iHeartRadio, RadioPublic,
Saavn, Spotify, Stitcher, Facebook and Twitter as well as their own
websites and mobile apps.
For more information, visit audioboom.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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