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Audioboom Group PLC on Tuesday reported its August revenue was the ‘strongest’ month of the year so far, as it jumps by more than a third. The Jersey, England-based podcast publisher said its revenue for August this year was $6.0 million, up 36% from $4.4 million in August 2023. Adjusted earnings before interest, taxation, depreciation and amortisation were $300,000, multiplying from a loss of $100,000 in August 2023. Audioboom said this was its highest monthly adjusted Ebitda profit since November 2022. This was primarily driven by a record monthly revenue of $2.5 million from Showcase, Audioboom’s global advertising marketplace for its podcast channels. Its August 2024 revenue more than doubled from the $1.0 million reported for August 2023. Audioboom also reported it had achieved 103 million global downloads for its podcasts in August, 8.4% higher than its second quarter average of 95 million. Shares in Audioboom were up 12% at 230.00 pence each in London on Tuesday afternoon. Chief Executive Officer Stuart Last said: ‘Audioboom continues to deliver positive results in 2024 with momentum building as we enter our strongest period of the year. Q4 is always our highest demand period due to the return of the NFL and the English Premier League, as well as the US holiday season, and this year it will be further boosted by the US election. I am extremely optimistic about Audioboom’s future.’ Audioboom’s full third quarter trading update is scheduled for October 15. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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