7th Apr 2020 16:38
(Alliance News) - Audioboom Group PLC on Tuesday reported a double-digit rise in revenue in the first three months of 2020 on higher downloads and brand advertising.
Shares in Audioboom closed 19% higher at 185.18 pence on Tuesday in London.
The podcast company said trading in the three months to the end of March rose by 40% to USD6.4 million from USD4.6 million the same period the year before.
Brand advertising count grew by 52% to 271 from 178 the prior year, while total available premium advertising impressions were 442 million, up 45% from 305 million the year before.
Revenue per 1,000 downloads in the month of March rose by 81% to USD38.40 from USD21.24.
"I'm delighted that we have continued our momentum into 2020, delivering results ahead of management's expectations, and growing our market position. However, this quarter was about more than just our direct financial results, it was about creating long-term value for the business through new initiatives and partnerships," said Chief Executive Officer Stuart Last.
By Dayo Laniyan; [email protected]
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