Podcast giant Audioboom has announced it took in £50m up until September, a 44 per cent increase on last year.
The firm said quarterly revenue was however down from £15m to £14.3m as a tough economic climate continued to impact its intake.
A boost in advertising revenue of £68m in 2022 so far has helped its profits adjusted for EBITDA to increase to £2.4m from £1.6m in the same period last year.
Average monthly downloads were also up almost 10 per cent to 107.5, compared to 99.1m in the same period last year.
Despite a strong performance, its CEO Stuart Last said the firm still expected difficulties amid the tough economic climate.
“Despite a challenging quarter due to a downturn in the advertising market caused by deteriorating macro-economic conditions, Audioboom has continued in its mission to deliver value for podcast creators and advertisers.”
He added that “advertising demand began to rebound in the second half” of the third quarter, with “bookings of more than US$73 million in place for 2022 – 21 per cent more than the entirety of last year’s revenue.”