REG - Audioboom Group PLC - Trading Update

AudioboomAnnouncement

11/04/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220411:nRSK8651Ha&default-theme=true

RNS Number : 8651H  Audioboom Group PLC  11 April 2022

 

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

 

Audioboom Group plc

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

 

Q1 Trading Update

107% revenue growth and record Q1 adjusted EBITDA profit

2022 contracted revenue of US$60.5m surpasses total 2021 revenue

 

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to
provide a trading update for the quarter ended 31 March 2022.

 

Financial and operating highlights

 

·      Record Q1 revenue of US$19.7 million, up 107% on Q1 2021 (US$9.5
million)

·      Record Q1 adjusted EBITDA((1)) profit of US$0.9 million (Q1 2021:
US$0.03 million)

·      Average global monthly downloads increased for the ninth
successive quarter to 126.2 million, up 45% on Q1 2021 (87.1 million). Global
downloads in March 2022 reached a record 131.0 million

·      Average brand advertiser count of 379, up 26% on Q1 2021 (301)

·      Average global revenue per 1,000 downloads (eCPM) increased to
US$50.48, up 25% (Q1 2021: US$40.55)

·      Group cash of US$3.3 million (31 December 2021: US$3.0 million)

·      The Company continues to manage its balance sheet efficiently and
utilise its working capital very effectively. As a reference it has collected
US$2.9 million to date in April

·      The Company has contracted revenue in excess of US$60.5 million
for 2022 through advance advertising bookings, surpassing total full year 2021
revenue (US$60.2 million)

 

Key Q1 2022 commercial developments

·      Continued growth of Showcase, our global advertising marketplace
- revenue from advertising technology in Q1 2022 more than 150% greater than
in Q1 2021, and now contributing more than 11% to Group revenue

·      Strong pricing due to robust advertising demand, with an Average
Unit Rate (AUR) during the quarter for our top 25 podcasts at US$14,295 vs Q1
2021's AUR of US$6,455

·      Further expansion of Audioboom Studios with new title launches
including National Park After Dark, Can I Get In Your Pantry?, and Devils in
the Dark, which reached number 1 on the UK True Crime podcast chart and the
Top 15 of Apple's overall podcast chart

·      Long-term renewal of key content partnerships in our Premium
Network, including Casefile True Crime, Mile Higher, Strange &
Unexplained, Lights Out and The Sesh

·      Launch of a new strategic partnership with leading radio and
media company NZME to monetise Audioboom's advertising inventory in New
Zealand

 

Stuart Last, CEO of Audioboom, commented: "I am delighted to report that our
fast growth has continued into 2022, further increasing our market share,
deepening our work with our creators, expanding our options for advertisers,
and achieving success for our original programming.

 

KPIs remained strong in a quarter which is traditionally quieter for ad spend,
while the continued strong growth in global downloads gives us further
confidence in the continued trajectory, both of the industry and our place
within it. That demand has also enabled us to secure more than US$60.5m of
advertising bookings for 2022 - already more than the entirety of our 2021
revenue. Furthermore, our unique ad model, which delivers high performance for
brands, has seen strong uptake, enabling us to achieve record pricing across
key inventory.

 

Our investment in Audioboom Studios - our creative and production arm - is
already being recognised, most notably with the successful launch of Devils in
the Dark, our first original show for a UK audience. Devils in the Dark
reached number 1 on the UK True Crime chart and the top 15 of Apple's overall
podcast chart upon release.

 

We continue our quest to build the world's leading podcasting business and
look ahead to an exciting year of further growth, profitability and creating
strong shareholder value."

 

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)20 3714 4285

 Brad Clarke, Chief Financial Officer

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

 Richard Chambers/Harriet Ward (ECM)

About Audioboom

 

Audioboom is a global leader in podcasting - our shows are downloaded more
than 126 million times each month by 34 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).

 

Audioboom Studios is home to a slate of content developed and produced by
Audioboom including 'Dark Air with Terry Carnation', 'F1: Beyond The Grid',
'RELAX!', '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.

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTSSMFMAEESEEL