Audioboom Group PLC Trading Update (2285A)
20 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMBOOM
RNS Number : 2285A
Audioboom Group PLC
20 January 2020
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Trading Update
91% revenue growth and significant year-on-year EBITDA
improvement
Audioboom (AIM: BOOM), the leading global podcast company, is
pleased to provide an unaudited trading update for the 12 months
ended 31 December 2019.
Financial Highlights (1)
-- Revenue increased 91% to US$22.2 million (2018: US$11.7 million for 13 months)
-- Adjusted EBITDA ((2) loss reduced 36% to US$3.0 million (2018: loss of US$4.7 million) ((3)
-- Cash position as at 31 December 2019 was US$2.0 million (31 December 2018: US$1.6 million)
KPIs (1)
-- Brand advertiser count of 280 as at 31 December 2019, up 75% on December 2018 (160)
-- Global revenue per 1,000 downloads (eCPM) for December 2019
increased 16% to US$29.60 (December 2018: US$25.49)
-- Total available premium advertising impressions for the 12
months to 31 December 2019 up 59% to 1,644 million (2018: 1,035
million)
The Board is pleased to report this strong performance for the
year to 31 December 2019 with the Company exceeding market
expectations for the first time in its history. Growth was
especially impressive as it was against a 13-month prior period.
The Board continues to be excited about the opportunities for the
business and believes this momentum will continue into 2020 and
beyond.
Stuart Last, CEO of Audioboom, commented: "2019 was an
incredible year for Audioboom with strong growth across all areas
of the business. Once again we outpaced the industry and enhanced
our position as a global leader in podcasting. As we look ahead,
Audioboom will seek to increase its share of advertising spend in
the core US market, as well as the UK, by focusing on our
acquisition of premium content. We will also invest in the growth
of our Audioboom Originals Network; expanding our studio and
production facilities, increasing our podcast IP, hiring top
production talent, and launching more than ten new shows in
2020.
"I want to thank our talented team at Audioboom for embracing
our strategy and working hard to reach our goals. Together, we are
excited to continue our growth across 2020, bringing even more
value to our podcast partners and our shareholders."
1) The financial period ended 31 December 2018 was a 13-month
period (1 December 2017 - 31 December 2018)
2) Earnings before interest, tax, depreciation, amortisation,
share based payments and material one-off items
3) Audioboom has adopted the modified retrospective approach to
the implementation of IFRS 16: Leases. There is deemed to be no
impact on reserves brought forward. Lease rental costs included
within administrative expenditure in the Group's last reported
annual financial statements are excluded from the 2018 comparative
adjusted EBITDA in this announcement to ensure consistency of
presentation
Enquiries
Audioboom Group plc
Stuart Last, Chief Executive Officer Tel: +44(0)20 7403
Brad Clarke, Chief Financial Officer 6688
Allenby Capital Limited (Nominated adviser Tel: +44(0)20 3328
and Broker) 5656
David Hart/Alex Brearley/Asha Chotai
Walbrook PR Limited (PR & IR Advisers) Tel: +44(0)20 7933
8780
Nick Rome/Tom Cooper or audioboom@walbrookpr.com
About Audioboom
Audioboom is a global leader in podcasting - producing,
distributing and monetising premium audio content to millions of
listeners around the world. Audioboom operates internationally,
with operations and global partnerships across North America,
Europe, Asia and Australia.
Audioboom provides technology and advertising services for a
premium network of 250 top tier podcasts, with key partners
including 'Casefile True Crime' (US), 'The Morning Toast' (US),
'And That's Why We Drink' (US), 'No Such Thing As A Fish' (UK),
'Starburns Audio' (US), 'The Cycling Podcast' (UK) and 'The Totally
Football Show' (UK).
The Audioboom Originals Network is a slate of content produced
by Audioboom including 'The 45(th) ', 'Covert', 'It's Happening
with Snooki & Joey', 'Mafia', 'Dead Man Talking' and 'Blank
Check'.
The platform allows content to be distributed via Apple
Podcasts, Spotify, BookMyShow, Deezer, Google Podcasts,
iHeartRadio, RadioPublic, Saavn, Stitcher, Facebook and Twitter as
well as a partner's own websites and mobile apps.
For more information, visit audioboom.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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