Audioboom Group PLC – 1Q19 Trading Update

Audioboom Group PLC – 1Q19 Trading Update

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to provide an update on trading for the quarter ended 31 March 2019.

Financial and Operating Highlights*

  • Trading ahead of management expectations with record quarterly revenue of c.US$4.6 million, up 180% on Q1 2018 (US$1.6 million)
  • Brand advertiser count of 178 as at 31 March 2019, up 11% on last quarter (31 December 2018: 160) and up 55% on the same period last year (31 March 2018: 115)
  • Revenue per 1,000 listens in the US (eCPM) at US$23.77, up 67% on same quarter last year (Q1 2018: US$14.27)
  • Total available premium advertising impressions was 305 million, up 28% from same period last year (Q1 2018: 239 million)
  • Cash position as of 31 March 2019 remains stable at US$1.7 million (31 December 2018: US$1.6 million), with the net proceeds of February 2019’s £1.5 million subscription already utilised in line with the stated use of proceeds to secure existing and new leading podcasting talent and shows, which are expected to further improve the Group’s performance over the course of the year and beyond

*The financial period ended 31 December 2018 was a 13 month period.  In order to provide appropriate like-for-like comparisons, the Q1 and Q4 2018 comparable periods referred to herein are 1 January – 31 March 2018 and 1 October – 31 December 2018 respectively

Key contract wins and renewals

Key contract renewals include podcast network SBI Audio (a 2 year agreement through to April 2021), true crime podcast “Undisclosed” (1 year agreement through to February 2020), and “True Crime Obsessed” (2 year agreement through to March 2021)

Renewals of Audioboom Original Network (AON) shows include “F1: Beyond The Grid” (a 2 year agreement through to February 2021), “Covert” (season 2) and “Mafia” (season 3).  The first episode of the new season of “F1: Beyond the Grid” already has  approximately 400,000 listens, up over 200% on the final episode of the 2018 season

New shows signed during Q1 include:

  • Genius Brain
  • You Can Sip With Us
  • What Happened When
  • Chilling Tales for Dark Nights
  • Small Town Dicks
  • The Influencer Podcast
  • What’s good with Rudolph and Minister
  • The Evidence Locker
  • Sunday Vibes: Extra Time
  • Out to Lunch with Jay Rayner
  • Alien Nation with Jo Wood

Other key developments

  • Enhanced global commercial agreement signed with Spotify
  • New agreement and integration with Spotify India
  • Strong pipeline of content acqusition and other opportunities

Rob Proctor, CEO of Audioboom, commented: “We are delighted with our start to 2019. We have signed great new podcasts during Q1, are making compelling new content, F1: Beyond the Grid is performing exceptionally well, and we have industry leading sell through rates. Podcasting is now the growth sector in digital media for brands and broadcasters looking to consolidate or add podcast creation and content to their platforms and we are involved in more content negotiations and commercial opportunities than ever before. We are ideally positioned to benefit from this; and the continued corporate activity within the sector demonstrates Audioboom’s potential to deliver significant shareholder value this year”.

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