Audioboom reposted this
Today Audioboom published its H1 2024 results: - $34.1 million of revenue (up 7%) - $0.3 million of EBITDA The 3rd successive period of y-o-y revenue growth and ebitda profit shows how well the business has battled back from the advertising market recession of 2022-23 But a second external challenge limited our revenue growth… I estimate that we would have delivered an additional $9 million of revenue but for the Apple iOS17 update that changed how podcasts are downloaded by users. After this double-whammy, Audioboom is in its best ever shape. We now generate more than $60 for every 1000 downloads on the network. As the network grows following the Apple iOS rebasing, we will maximize the value for our creators. How? Showcase, our ad-tech driven marketplace, is expanding fast. More than $2m generated in June and pricing in Showcase is up by 40% this year. It’s not just about pure volume, it’s becoming premium. Our newly-launched brand awareness team has great traction with multiple ad campaigns running. While our brand count KPI has plateaued around 8k this is because smaller, less valuable brands are priced out and bigger, more robust bluechip brands are in. Quality over quantity. Multiple new podcasts announced for the Audioboom Creator Network, and we moved up the Triton Digital podcast ranker last week. We’re the biggest independent Podcast Publisher globally and outpacing competitors $65 million booked for 2024 - so all growth from this point. With the US sports season and US elections ahead of us the rest of the year is shaping up well