Audioboom Group PLC Second Quarter Update (3410H)
June 07 2017 - 2:00AM
UK Regulatory
TIDMBOOM
RNS Number : 3410H
Audioboom Group PLC
07 June 2017
Audioboom Group plc
("AudioBoom" or the "Company")
Second Quarter Update
AudioBoom (AIM: BOOM), the leading spoken word audio on-demand
platform, announces an update for the second quarter of the current
financial year.
The Company's strong performance for the first quarter of the
year continued in the second quarter resulting in revenue for the
six months ended 31 May 2017 of at least GBP1,800,000, an increase
of 447% over the comparable period in 2016 (H1 2016:
GBP329,000).
KPI Q1 2017 Q2 2017 % increase
28 Feb 31 May
2017 2017
-------------------------- -------- -------- -----------
Monthly unique users
(Total for final month
of period) 58m 81m +40%
-------------------------- -------- -------- -----------
Available advertising
impressions
(Cumulative for period) 304m 485m +60%
-------------------------- -------- -------- -----------
Unique file requests
(Cumulative for period) 149m 176m +18%
-------------------------- -------- -------- -----------
Content channel partners
(Total) 10,005 11,843 +18%
-------------------------- -------- -------- -----------
Rob Proctor, CEO of AudioBoom, said: "I am particularly pleased
to report that the operational momentum generated in 2016 is now
beginning to translate into rapidly improving financial results,
with a significant increase in revenue for the first half of the
year to over GBP1.8 million. Our forward bookings provide us with
confidence for the remainder of the year.
"The significant revenue increase compared to the first half of
2016 is driven by a broad range of growing KPIs, but most
significant has been the growth in our US "live read" fill rates
over the last few quarters, rising from under 20% in Q2 2016 to
just over 70% in Q2 2017. Additionally, our sales team has done a
tremendous job in increasing the Company's overall advertiser brand
count from just under 10 at the end of Q2 2016, to just over 80 at
the end of the last quarter.
"It is now clear that advertisers are increasingly looking
towards on-demand spoken word platforms to reach younger audiences
as well as to target the right demographics for their brands.
"Importantly from a shareholder perspective, the number of
unique file requests (UFRs) continues its upward trajectory and the
number of content channels using our services is increasing in both
quantity and quality. We are now receiving at least 60 million UFRs
per month with growth in the UK being spearheaded by success
stories such as Untold: The Daniel Morgan Story and They Walk Among
Us, a new wave of British True Crime podcasts, mirroring the
success of US series such as Serial.
"I look forward to presenting a full review of the Company's
financial performance for the six months to 31 May 2017 in the
knowledge that the Company is well positioned to benefit as the
podcast advertising industry matures."
Audioboom Group plc
------------------------------------------- ----------------------------
Rob Proctor, Chief Executive Officer Tel: +44(0)20 7403
6688
------------------------------------------- ----------------------------
David McDonagh, Chief Financial Officer
------------------------------------------- ----------------------------
Allenby Capital Limited (Nominated adviser Tel: +44(0)20 3328
and broker) 5656
------------------------------------------- ----------------------------
David Hart / James Thomas / Asha Chotai
------------------------------------------- ----------------------------
Walbrook PR Limited (PR & IR Advisers) Tel: +44(0)20 7933
8780
------------------------------------------- ----------------------------
Paul Cornelius / Sam Allen or audioboom@walbrookpr.com
------------------------------------------- ----------------------------
About AudioBoom
AudioBoom is a global podcasting platform that consolidates the
business of on-demand audio, making content accessible,
wide-reaching and profitable for podcasters, advertisers and
brands. AudioBoom 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 helps content creators share their content via iTunes,
iHeartRadio, Google Play, Saavn, Spotify, Stitcher, Facebook and
Twitter, as well as their own websites and mobile apps.
AudioBoom hosts almost 12,000 channels, with key ones including
the Associated Press, Trinity Mirror Group, BBC, celebrities such
as Russell Brand, and more.
Top podcasts include Athletico Mince, News Roast, No Such Thing
As A Fish, and Untold: The Murder of Daniel Morgan. AudioBoom
receives over 60 million unique file requests per month and is the
only end-to-end podcasting platform that also operates
internationally, with offices across Europe, Asia, Australia and
Latin America.
For more information for podcasters, advertisers and listeners,
visit audioboom.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 07, 2017 02:00 ET (06:00 GMT)
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