Audioboom jumps as revenues rise even before key NFL, Premier League period
Published: 17:07 10 Sep 2024 AEST
Shares in Audioboom Group PLC (AIM:BOOM) rang up a 12% gain to 230p on Tuesday morning after the podcast firm broadcast an improvement in downloads, revenues and earnings as it heads into its typically busier period when the NFL and Premier League seasons return.
Revenue jumped 35% to US$6 million (£4.6 million) in August, the podcast publisher said in a trading update ahead of October’s third quarter results.
Global downloads sat at 103 million over the month, above an average of 95 million seen over the course of the second quarter.
This aided the company to its highest monthly adjusted earnings since November 2022, of US$0.3 million against a US$0.1 million loss last August.
Chief executive Stuart Last noted that Apple’s iOS 17 software update had hit download and advertising levels after being introduced in late 2023.
He hailed the 103 podcast downloads, saying “the Audioboom creator network is expanding once more”.
The upcoming fourth quarter was typically the company's period of highest demand, thanks to the return of NFL and EPL fixtures, noting the US election should also provide a boost for political podcasts.
