Business
Half-year Report
Half-year Report.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n\n \nThis announcement contains inside information as stipulated under the UK Market Abuse Regulations (\"MAR\")\n \n\n \n \n \n \n \n \nAudioboom Group plc\n(\"Audioboom\", the \"Group\" or the \"Company\")\n \nHalf-Year Report\n \nAudioboom (AIM: BOOM), the leading global podcast company, announces its unaudited half-year results for the six months ended 30 June 2024.\n \nFinancial and operational KPIs\n· H1 revenue of US$34.1 million, up 7% on H1 2023 (US$31.8 million)\n· Adjusted EBITDA(1) profit of US$0.3 million (H1 2023: US$0.3 million) - Q2 represented the third successive quarter of positive adjusted EBITDA\n· Record average quarterly eCPM (revenue per 1,000 downloads) in Q2 of US$60.09, up 38% (Q2 2023: US$43.55). Audioboom continues to maximise the value it extracts from downloads versus its peers\n· Average Q2 brand advertiser count of 8,062 (Q2 2023: 8,042). Strategic pricing increases in our Showcase advertising product have limited access to lower-value brands, continuing our focus on high-quality monetisation\n· Average Q2 global monthly downloads of 94.8 million (Q2 2023: 125.9 million). While Audioboom has added a number of new tier-1 podcasts to the creator network in the past year, Apple's iOS17 update in late 2023 has reduced and rebased download reporting materially across the wider podcast industry - decreasing by an average of 32% (2). We expect the impact of the iOS17 update to create more favourable long-term commercial conditions in the podcast industry due to the increased levels of return-on-investment that more accurate download data will deliver to advertisers \n· The Company has in excess of US$65 million revenue for 2024 booked - more than total revenue for 2023 with more than five months of the year remaining\n· Group cash at 30 June 2024 of US$3.5 million (31 March 2024: US$3.1 million), with a further US$1.9 million available via an undrawn overdraft\n \nCommercial highlights\n· Record H1 revenue from Showcase, our global advertising marketplace, reflecting the Company's continued progress in building key, scalable advertising technology. H1 2024 Showcase revenue of US$9.3 million, up 3...