Audioboom FY adjusted EBITDA expected to have 'significantly increased'

Podcast company Audioboom said on Thursday that it had continued to experience "strong momentum" into the fourth quarter of 2021, with the group now expecting to generate "significantly increased" adjusted underlying earnings and "marginally improved" revenues.

Audioboom stated its performance had been driven by further development of its technology platform, and a continued focus on its content expansion plan, with key drivers of during the fourth quarter being high advertiser demand for premium content, strong audience growth globally, and, following the launch of its SHOWCASE in November, increased revenue from ad tech.

The AIM-listed group expects to provide a full 2021 year-end trading update on 19 January, ahead of its audited results for the year in March 2022.

Chief executive Stuart Last 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."

As of 1035 GMT, Audioboom shares were up 2.79% at 1,105.0p.