7th Oct 2019 11:17
(Alliance News) - Audioboom Group PLC on Monday said it delivered record revenue in the third quarter and is trading in line with internal expectations.
The podcast company said it secured roughly USD5.7 million revenue in the period to September 30, a quarterly record, and up 90% year-on-year from USD3.0 million.
Revenue in the nine months to the end of September, stood at USD15.5 million, more than double the USD6.8 million delivered in the same period last year.
Audioboom said global revenue per 1,000 downloads for September increased to USD27.38, up 28% from USD21.34 from the same period last year and third quarter premium advertising impressions rose 66% year-on-year to 446 million from 269 million.
The company said its contract renewals include the No Such Thing As A Fish, a weekly podcast series presented by the researchers of the BBC's QI panel gameshow and The Totally Football Show, a twice weekly football analysis podcast.
It also signed an advertising technology partnership with Voxnest Inc to quickly deliver adverts to the Audioboom podcast inventory.
Looking ahead, the company reported a "strong development pipeline" of original shows due to be launched towards the end of 2019 and the beginning of 2020.
Audioboom Interim Chief Executive Stuart Last said: "We're pleased to confirm another strong quarter of growth for Audioboom, cementing our position as one of the largest independent podcast companies in the world. New shows launched into our Audioboom Originals Network made a significant impact as we increased our commitment to creative bravery and solidified our marketing strategy. We continue to execute our strategy efficiently, proving our business model both in the US and the UK, and delivering dynamic growth across all our key performance markers."
Shares in the company were 7.1% lower at 167.16 pence each in London on Monday morning.
By Eric Cunha; [email protected]
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