TIDMBOOM
RNS Number : 0372Q
Audioboom Group PLC
07 September 2017
Audioboom Group plc
('AudioBoom' or the 'Company')
Third Quarter Update
AudioBoom (AIM: BOOM), the leading spoken word audio on-demand
platform, announces an update on its performance for the third
quarter of the current financial year (the "Period").
The Company's strong financial and operational performance has
continued into the third quarter with revenue increasing 329%
compared to the corresponding period in the previous year. In
addition, revenues increased 32% over the second quarter of the
current financial year to GBP1.49m (Q2 2017: GBP1.12m). Third
quarter revenues were therefore another quarterly record for the
Company with record forward bookings already received for the final
quarter of 2017.
The Board is also particularly pleased that available
advertising impressions, a key performance indicator for future
revenue growth, increased 24% quarter on quarter in what has
traditionally been the quietest period for Internet companies.
KPI Q3 2017 Q2 2017 % +/-
to 31 to 31
Aug May
--------------------------- -------- -------- ------
Monthly unique users
(Total for final month
of period) 90m 81m +11%
--------------------------- -------- -------- ------
Available advertising
impressions
(Cumulative for period) 602m 485m +24%
--------------------------- -------- -------- ------
Unique file requests
("UFRs")
(Cumulative for period) 181m 176m +3%
--------------------------- -------- -------- ------
Content channels
(Total at end of period) 11,424 11,843 -4%
--------------------------- -------- -------- ------
Content partners
The number of content channels reduced slightly in the Period
following the implementation of the nominal subscription fee for
smaller content partners announced on 30 June 2017. The primary
purpose of the nominal subscription fee model was to charge these
customers a fair market rate for access to the global AudioBoom
distribution platform, with a view to helping the Company remove
non-profitable accounts. The nominal fee generates additional
revenue, reduces demand on the Company's bandwidth and decreases
storage costs but most importantly frees up account management
time, allowing the team to focus on winning and serving larger and
more profitable podcasters. This reflects the Company's key targets
of increasing revenue generation and expanding its operating
margins.
This strategy is demonstrably working with unique users, UFRs,
available advertising impressions and revenues all increasing
against a backdrop of reducing channel partner costs.
USA
An important re-signing during the Period was the very popular
podcast Undisclosed, which is now contracted to December 2018.
Other important signings included Dave & Chuck The Freak (4m
listens per month ("lpm")), Drink Champs (3m lpm), Convicted (2m
lpm) and the newly launched It's Happening With Snooki & Joey
(already 1m lpm).
The 'Audioboom Originals Network' has continued to build on its
initial success, with launches including Inside The US Open, the
official US Open tennis podcast, Blank Check, Deliberations,
Mission To Zyxx and Very Bad Words.
UK
An important new UK partner signed during the Period is the
Totally Football Show (formally The Guardian Football Weekly),
which debuted at the top of the UK iTunes chart and now has 2m
downloads per month. No Such Thing As A Fish, with 6m lpm, has
re-signed until June 2018 with the Huffington Post and Spectator
both re-signing by the end of the Period.
International
Growth in India continues rapidly, with new partners including
BookMyShow, a licensing deal for 50 Indian and international
podcasts to be made available within their app on a non-exclusive
basis. Aaj Tak, part of the India Today Group and News18, part of
CNN International have also joined. AudioBoom India will also
create four new original podcasts. In Australia, Planet Broadcast,
the country's premier original podcast producer, has also signed to
come onto the platform.
Rob Proctor, CEO of AudioBoom, said: "Nearly 90 million people
listened to a Boom in August and this already incredible number of
users continues to grow month on month. This provides a prime
target for agencies and marketers who have now realised this
engaged, motivated and attractive audience is an ideal demographic
for clients' advertising spend. Major marketing budgets are
therefore increasingly being allocated to the podcasting and audio
mediums.
This growth is directly impacting our financial performance and
our quarter on quarter revenue growth continues. This increasing
momentum, together with record advance bookings for the final
quarter of the year, means we are increasingly confident for the
remainder of the current financial year and beyond.
Since the Period end, our industry continues to move forward
apace; in the past month, there have been three significant
investments into US podcasting companies. Both public and private
capital is realising the growth and global potential of podcasting,
an industry in which AudioBoom is already a key player, and this
clearly bodes very well for our future as we continue to build one
of the most robust, diverse and extensive podcasting platforms in
the world."
Audioboom Group plc
----------------------------------- ----------------------------
Rob Proctor, Chief Executive Tel: +44(0)20 7403
Officer 6688
----------------------------------- ----------------------------
Allenby Capital Limited (Nominated Tel: +44(0)20 3328
adviser and broker) 5656
----------------------------------- ----------------------------
David Hart / James Thomas
/ Asha Chotai
----------------------------------- ----------------------------
Walbrook PR Limited (PR & Tel: +44(0)20 7933
IR Advisers) 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 Apple
Podcasts, Deezer, iHeartRadio, Google Play, Saavn, Spotify,
Stitcher, Facebook and Twitter, as well as their own websites and
mobile apps.
AudioBoom hosts almost 11,500 channels, with key ones including
the Associated Press, Trinity Mirror Group, BBC, the "Totally
Football Show" (formerly The Guardian Football Weekly), 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 operations across the US, Europe, Asia,
Australia and Latin America.
For more information for podcasters, advertisers and listeners,
visit audioboom.com.
ENDS.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEAKNKEALXEFF
(END) Dow Jones Newswires
September 07, 2017 02:00 ET (06:00 GMT)
Audioboom (LSE:BOOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Audioboom (LSE:BOOM)
Historical Stock Chart
From Apr 2023 to Apr 2024