TIDMBOOM
RNS Number : 7747R
Audioboom Group PLC
14 December 2016
14 December 2016
Audioboom Group plc
("Audioboom" or the "Company")
Trading Update
Audioboom (AIM: BOOM), the leading spoken-word audio on-demand
platform, is pleased to provide an update on its Q4 KPIs and
trading for the year ended 30 November 2016.
KPIs
The Company's solid KPI performance for 2016 has led to strong
year-on-year revenue growth:
-- UFRs: as stated previously, the Company has adopted the IAB
standard of unique file requests (UFRs) to replace its "listens"
metric. Audioboom's Q4 UFRs were 145 million (a quarterly record),
compared to 102 million in Q3, an increase of over 42%. Total 2016
UFRs were 430 million, compared to 174 million in 2015, an increase
of 145%.
-- Unique users: 58,582,986 as at 30 November 2016, compared to
29,100,384 as at 30 November 2015, an increase of over 100%.
-- Available advertising impressions: total available ad
impressions grew from 59 million in Q3 to 128.6 million in Q4, an
increase of 118%. Audioboom created a total of 242 million
advertising impressions in 2016, up from 44 million in 2015, an
increase of 450% year on year.
-- Content channels: 595 new content channels were added during
Q4, giving a total of 9,527 content channels as at 30 November
2016, an increase of over 38% in the year (30 November 2015:
6,862). Notable new partners include NBC Universal, Spotify,
Univision, Saavn and Deezer.
Financial update and outlook
Overall 2016 revenues are expected to exceed GBP1.3 million, an
increase of more than six fold compared to last year, and ahead of
market expectations. The rate of growth in 2016 has continued to
accelerate from H1 to H2, with Q4 revenues of more than GBP630,000.
This rate of revenue growth has continued post year end, with over
GBP1.1 million already booked for advertising campaigns in
2017.
Due to acceleration in audience acquisition costs and higher
recruitment fees to acquire USA commercial head count, the Company
expects its EBITDA loss for the full year to be greater than market
expectations. The Company has taken steps to reduce costs through
new ad-serving and bandwidth partnerships which it expects could
achieve cost savings of approximately 40% for 2017 over 2016 in
this area. Additionally, UK annual headcount has been reduced by
GBP465,000 to allow the Company to focus on its growth
opportunities in the USA.
The year-end cash balance was c. GBP710,000.
The Company's full year results are currently expected to be
published in March 2017.
Further to the announcement dated 3 October 2016, the Audioboom
Board has ceased to seek investment from the Chinese fund and
rather focus on its core business.
Audioboom CEO, Rob Proctor, commented: "The tremendous growth in
all of our key KPIs: monetisation, UFRs, ad impressions and content
partners for Q4 and the full year demonstrates that Audioboom has
reached a crucial tipping point.
At the start of the year, we informed investors 2016 would be
the year that we proved our business model in the global audio
market and we believe our revenue performance is evidence of
that.
We are really excited for our prospects in 2017; the key
priority is again strong revenue growth, as we focus increasingly
on our USA operations. I believe that podcasting will be a US$1bn
industry in the next few years and Audioboom is ideally positioned
to be a major player within it."
Enquiries:
Audioboom Group plc
Rob Proctor, Chief Executive Tel: +44 (0)20 7403 6688
Officer
David McDonagh, Chief
Financial Officer
Liberum (NOMAD and Broker) Tel: +44 (0)20 3100 2222
Neil Patel / Richard Bootle
Hudson Sandler
Cat Valentine / Jocelyn Tel: +44 (0)20 7796 4133
Spottiswoode
About Audioboom
Audioboom is the leading spoken--word audio platform for
hosting, distributing and monetising content.
Audioboom works with more than 3,000 active broadcasters,
content creators and podcasters around the world -- including
Cumulus, the BBC, NewsCorp, Associated Press, NBC Sports Radio,
Undisclosed and Global -- hosting approximately 9,500 content
channels.
Audioboom's hosting and distribution platform allows partners to
embed, share via social channels and re--syndicate their content.
Audioboom content receives more than 40m unique file requests per
month, and growing. Additionally, Audioboom works with its partners
to monetise their audio via live in--reads, the dynamic insertion
of pre and post roll audio adverts, and video ads.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 14, 2016 02:00 ET (07:00 GMT)
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