Business
PodcastOne (Nasdaq: PODC) Delivers Record Programmatic Revenue in Company History In Q2 Fiscal Year 2024
Q2 Fiscal Year 2024 Sees 121% Growth in Programmatic Revenue Over Q2 Fiscal Year 2023 24% Increase in Average Programmatic CPM Marks Company High, On Track
About this update from Podcastone, Inc.
[{"type":"text","content":"Q2 Fiscal Year 2024 Sees 121% Growth in Programmatic Revenue Over Q2 Fiscal Year 2023 24% Increase in Average Programmatic CPM Marks Company High, On Track for More Growth in Q3 Fiscal Year 2024 LOS ANGELES, CA, Nov. 30, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – PodcastOne (NASDAQ: PODC), a leading podcast platform and a subsidiary of LiveOne (NASDAQ: LVO), which owns ~80% of the PODC common stock, announced today the highest programmatic revenue in company history for the second fiscal quarter of its fiscal year ending March 31, 2024 (“Q2 Fiscal Year 2024”), 121% growth over the same period last year. Q2 Fiscal Year 2024 programmatic revenue also grew compared to the previous quarter, which had ranked as the company’s previous highest quarterly benchmark. As touted by MediaRadar, programmatic advertising is an emerging trend in podcast monetization. PodcastOne’s growth percentages put the company well in front of this soon-to-be industry-wide revenue trend. Leveraging Adswizz’s ad serving technology, the industry wide shift and growth in programmatic advertising and PodcastOne’s expansive, premium inventory of highly sought after hosted podcasts, such as The Fighter & The Kid, The Adam Carolla Podcast, Cold Case Files, Coffee Convos and Off The Vine with Kaitlyn Bristowe, PodcastOne was able to deliver over 229 Million programmatic impressions for Q2 Fiscal Year 2024 an increase in impressions of 79% from the same period last year. PodcastOne is also celebrating its highest average programmatic CPM in Q2 Fiscal Year 2024, marking a 24% growth from the same period last year. PodcastOne’s fiscal year concludes March 31, 2024. \"The growth of programmatic advertising across the audio industry represents the maturation of podcasting as both a cultural medium and an advertising strategy. Like display, video, or CTV, it has proven to be an efficient, effective, and scalable strategy trusted by listeners and advertisers alike. As a network that’s leveraged programmatic for more than four years, our growth and momentum is credited to the appeal of our programming, the successful relationships with our programmatic partners, and the collaboration across the industry to educate and evolve programmatic audio,\" said Ellie Andrews, Director of Digital Operations for PodcastOne. “In 2024 the podcast industry is poised to have over half a ...