Podcast firm Audioboom said this morning it had continued to experience “strong momentum” into the fourth quarter of 2021, with the company now expecting to generate “significantly increased” adjusted underlying earnings and “marginally improved” revenues.
The performance has reportedly been driven by further development of the Audioboom tech platform, and the continued focus on the content expansion plan.
The company noted the high advertiser demand for premium content, strong audience growth globally, and the launch of SHOWCASE as a key reason behind the success.
SHOWCASE is a global marketplace, which offers advertisers access to more than 8,000 podcast channels for dynamic advertising, and gives podcasters the opportunity to reach more than 2,000 ad buyers. This has, in turn, increased revenue from ad tech for the company.
Stuart Last, chief exec of Audioboom, said: “We launched SHOWCASE just six weeks ago and it is already having a positive impact on our business; we look forward to building on this initial success to grow it into a meaningful revenue stream for Audioboom.”
“We are also seeing a continuation of rapid growth in podcast listening across the network in the fourth quarter, plus high advertiser demand for our premium content. We are delivering a strong end to an already transformative year for Audioboom in which market expectations have been upgraded six times.”
In its last full year results, the firm reported a 2020 revenue of $26.8m (£20,1m), up 20 per cent on 2019.
Audioboom shows are downloaded more than 100 million times each month by 30 million unique listeners around the world; it is also ranked the fourth largest podcast publisher in the US by Triton Digital.
Shares in the company are up over eight per cent this afternoon to 1,167.50p, as traders back the confident update from the firm.