REG - Audioboom Group PLC - Trading Update

AudioboomAnnouncement

16/12/2021 07:00

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RNS Number : 8087V  Audioboom Group PLC  16 December 2021

 

This announcement contains inside information as stipulated under the UK
Market Abuse Regulations ("MAR").

 

Audioboom Group plc

("Audioboom", the "Group" or the "Company")

 

Trading Update

Full year 2021 trading expected to be significantly ahead of current market
expectations

 

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to
announce that it has continued its strong momentum into the fourth quarter of
2021 and the Board now expects that Audioboom will generate significantly
increased adjusted EBITDA((1)), and marginally improved revenue, ahead of
current market expectations for the year.

 

This performance has been driven by further development of the Audioboom
technology platform, and the continued focus on the Company's content
expansion plan. Key drivers of success during Q4 have been: high advertiser
demand for premium content; strong audience growth globally; and, following
the November launch of SHOWCASE, increased revenue from ad tech via our global
marketplace.

 

The Board expects to provide a full 2021 year-end trading update on 19 January
2022, ahead of audited results for the year in March 2022.

 

Stuart Last, CEO of Audioboom, commented: "We launched SHOWCASE just six weeks
ago and it is already having a positive impact on our business; we look
forward to building on this initial success to grow it into a meaningful
revenue stream for Audioboom. We are also seeing a continuation of rapid
growth in podcast listening across the network in the fourth quarter, plus
high advertiser demand for our premium content. We are delivering a strong end
to an already transformative year for Audioboom in which market expectations
have been upgraded six times."

 

1)     Earnings before interest, tax, depreciation, amortisation, share
based payments, non-cash foreign exchange movements and material one-off items

 

Enquiries

 Audioboom Group plc
 Stuart Last, Chief Executive Officer                                    Tel: +44(0)300 303 3765

 Brad Clarke, Chief Financial Officer

 finnCap Ltd (Nominated Adviser and Broker)                              Tel: +44(0)20 7220 0500
 Jonny Franklin-Adams/Abigail Kelly/Milesh Hindocha (Corporate Finance)

 Richard Chambers/Harriet Ward (ECM)

About Audioboom

 

Audioboom is a global leader in podcasting - our shows are downloaded more
than 100 million times each month by 30 million unique listeners around the
world. Audioboom is ranked as the fourth largest podcast publisher in the US
by Triton Digital.

 

Audioboom's ad-tech and monetisation platform underpins a scalable content
business that provides commercial services for a premium network of 250 top
tier podcasts, with key partners including 'Casefile True Crime' (US),
'Morbid' (US), 'True Crime Obsessed' (US), 'The Morning Toast' (US), 'No Such
Thing As A Fish' (UK), and 'The Cycling Podcast' (UK).

 

The Audioboom Originals Network is a slate of content developed and produced
by Audioboom including 'Dark Air with Terry Carnation', 'RELAX!', 'Baby Mamas
No Dramas', 'Covert', 'It's Happening with Snooki & Joey', 'Mafia',
'Huddled Masses' and 'What Makes A Killer'.

 

Audioboom operates internationally, with operations and global partnerships
across North America, Europe, Asia and Australia. The platform allows content
to be distributed via Apple Podcasts, Spotify, Pandora, Amazon Music, Deezer,
Google Podcasts, iHeartRadio, RadioPublic, Saavn, Stitcher, Facebook and
Twitter as well as a partner's own websites and mobile apps.

 

For more information, visit audioboom.com.

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