26th Nov 2018 13:02
LONDON (Alliance News) - Audioboom Group PLC said Monday its current trading remains in line with management expectations for the 13 months to the end of December and will be consistent with the update its released at the start of October.
Back then, Audioboom said it expects an annual loss and revenue to miss market expectations for the full financial year.
The podcast platform said that Audioboom Originals Network, launched in the first half of 2017, now has 12 owned and operated podcasts and had more than 2 million downloads in October.
Audioboom said its military documentary Covert, true crime history podcast Mafia, and most recently launched podcast Dead Man Talking has driven the rise.
"We have been delighted by the listeners' and industry's response to the Audioboom Originals Network titles, especially Dead Man Talking, which has received almost 1 million downloads in seven weeks since its launch on October 2. It is the fastest growing show that we've ever released."
The show is a true crime podcast that investigates the confessions of serial killer Angel Resendiz, known as the railroad killer. Audioboom believe the success of the show can be attributed to its high production values and its marketing promotions.
"Audioboom Originals Network and co-production shows are a key focus for next year, which we anticipate will allow us to further grow gross margins, and potentially develop valuable IP, which we may be able to expand into TV and film production in conjunction with our partners into 2019 and beyond."
Audioboom has three new shows starting in the first quarter of 2019.
Shares in Audioboom were up 1.1% Monday at 1.06 pence each.
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