Podcast firm Audioboom has made a maiden profit after success with true crime podcasts and beating its own records for monthly downloads.
In final audited results for the year ended 31 December 2021, the London listed firm posted revenue of $60.3m, an increase of 125 per cent on 2020.
The firm reported maiden annual net profit before tax of $1.7m, compared to a $3.3m loss the previous year.
The maker of podcasts including National Park After Dark, Can I Get In Your Pantry?? and Devils in the Dark, said it had also marked record first quarter revenue. Revenue for the first quarter was $19.7m, up 107 per cent on the first quarter of 2021.
Devils in the Dark hit number one on the UK True Crime podcast chart and the Top 15 of Apple’s overall podcast chart.
The podcast firm said it reached a record of 131m of global downloads in March 2022.
Earlier this year, it was reported by Sky News that tech titans Amazon and Spotify were mulling takeover bids for the podcast firm, after it saw revenue shoot up.
Stuart Last, CEO of Audioboom, dubbed the year a “defining” one for the company. “Our phenomenal performance has positioned us as the world’s leading pure-play podcast business and increased our market-share significantly,” he said.
Last added: “Our innovation led to the launch of new best-in-class advertising technology tools, the scaling of our platform and new levels of success for our creator partners and advertisers.
“Our ambition is to build the world’s leading podcasting business, and I am delighted with the start we have made in 2022 and look forward to the future with confidence.”