Business
Third Quarter Update
Third Quarter Update.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n \nRNS Number : 0372Q Audioboom Group PLC 07 September 2017 \n\n \nAudioboom Group plc\n('AudioBoom' or the 'Company')\n \nThird Quarter Update\n \nAudioBoom (AIM: BOOM), the leading spoken word audio on-demand platform, announces an update on its performance for the third quarter of the current financial year (the \"Period\"). \n \nThe Company's strong financial and operational performance has continued into the third quarter with revenue increasing 329% compared to the corresponding period in the previous year. In addition, revenues increased 32% over the second quarter of the current financial year to £1.49m (Q2 2017: £1.12m). Third quarter revenues were therefore another quarterly record for the Company with record forward bookings already received for the final quarter of 2017. \n \nThe Board is also particularly pleased that available advertising impressions, a key performance indicator for future revenue growth, increased 24% quarter on quarter in what has traditionally been the quietest period for Internet companies. \n \n\n\n\n\nKPI\n\n\nQ3 2017 \nto 31 Aug\n\n\nQ2 2017 \nto 31 May \n\n\n% +/-\n\n\n\n\nMonthly unique users\n(Total for final month of period)\n\n\n90m\n\n\n81m\n\n\n+11%\n\n\n\n\nAvailable advertising impressions\n(Cumulative for period)\n\n\n602m\n\n\n485m\n\n\n+24%\n\n\n\n\nUnique file requests (\"UFRs\")\n(Cumulative for period)\n\n\n181m\n\n\n176m\n\n\n+3%\n\n\n\n\nContent channels\n(Total at end of period)\n\n\n11,424\n\n\n11,843\n\n\n-4%\n\n\n\n\n \nContent partners\nThe number of content channels reduced slightly in the Period following the implementation of the nominal subscription fee for smaller content partners announced on 30 June 2017. The primary purpose of the nominal subscription fee model was to charge these customers a fair market rate for access to the global AudioBoom distribution platform, with a view to helping the Company remove non-profitable accounts. The nominal fee generates additional revenue, reduces demand on the Company's bandwidth and decreases storage costs but most importantly frees up account management time, allowing the team to focus on winning and serving larger and more profitable podcasters. This reflects the Company's key targets of increasing revenue generation and expanding its operating margins.\n \nThis strat...