Audioboom’s robust progress has continued into the brand new yr, with revenues greater than doubling as extra individuals tuned into its podcasts.
The corporate, which hosts the That is Cash podcast, raked in a report $19.7million in revenues within the first quarter, up 107 per cent from the identical interval final yr.
Common world month-to-month downloads elevated by 45 per cent to 126.2million, because it benefited from new podcasts launches, together with Devils within the Darkish, which topped the UK True Crime podcast chart.
Tuning in: Audioboom has launched a collection of recent podcasts comparable to Devils within the Darkish
The corporate’s manufacturing division additionally launched Nationwide Park After Darkish, a podcast about parks and what can go improper there, and May I Get In Your Pantry?, a podcast about relationship and meals.
In the meantime, it secured long-term renewal of key partnerships together with Casefile True Crime, Mile Greater, Unusual & Unexplained, Lights Out and The Sesh.
In March alone, Audioboom world downloads hit a report 131million.
The corporate, which turned a revenue for the primary time final yr, hailed ‘report’ revenue earlier than nasties of $900,000 within the quarter as advertisers purchased slots in its reveals.
It secured greater than $60.5million of promoting bookings for 2022 – already greater than everything of its 2021 income.
Audioboom additionally continued to see robust progress on its advert expertise platform, which permits podcasters so as to add adverts to older episodes of their reveals without having to re-edit them.
Income from promoting expertise was greater than 150 per cent forward of the identical interval final yr and now makes up over 11 per cent of whole group revenues.
Property developer Nick Sweet is Audioboom’s second greatest shareholder with a 15% stake
Chief govt Stuart Final stated: ‘I’m delighted to report that our quick progress has continued into 2022, additional rising our market share, deepening our work with our creators, increasing our choices for advertisers, and attaining success for our authentic programming.’
Nonetheless, AIM-listed Audioboom shares tumbled 5 per cent in early buying and selling.
The corporate, based in 2009, has seen stellar progress, with shares rising by virtually 1,000 per cent in two years – from round £1.80 in April 2020 to £19.55 right this moment.
Property developer Nick Sweet has seen a windfall as he’s the corporate’s second greatest shareholder with a 15 per cent stake.
Audioboom’s studios division makes podcasts on subjects such because the American Mafia, former President Donald Trump and well-known navy operations, and the interview programme offered by tv star Sue Perkins.
Content material produced by its companions embody No Such Factor as a Fish, hosted by the writers of BBC comedy present QI, F1: Past the Grid, and The Outlander Podcast, a dialogue spin-off of the hit fantasy collection.
Stellar progress: Audioboom shares have risen by virtually 1,000% over the previous two years