3rd Apr 2019 08:57
LONDON (Alliance News) - Audioboom Group PLC on Wednesday said revenue more than doubled in the first three months of 2019 on contract renewals.
Audioboom shares were trading 5.4% higher on Wednesday at 2.42 pence each.
The podcast company said trading in the three months to the end of March was ahead of management expectations, with revenue more than doubling to USD4.6 million from USD1.6 million in the first quarter of 2018.
Brand advertiser count grew by 11% to 178 on the prior quarter, and was 55% higher on the year before. Total available premium advertising impressions were 305 million, up 28% compared to 239 million last year.
Revenue per 1,000 listens in the US totalled USD23.77, up 67% on the same quarter last year.
In the first quarter, the AIM-listed company said it renewed its original network shows, including F1: Beyond The Grid, which recorded 400,000 listens, for the first episode of the new season, tripled on the final episode of the 2018 season.
"We are delighted with our start to 2019," said Chief Executive Rob Proctor. "We have signed great new podcasts during the first quarter, are making compelling new content, F1: Beyond the Grid is performing exceptionally well, and we have industry leading sell-through rates."
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