- The high margin of the Podcast platform Showcase business is profitable
Audioboom has updated its earnings guidance for the third time in less than two months, as the podcast platform’s ad sales beat expectations.
The AIM-listed team hosts the popular F1: Beyond The Grid podcast – and it’s also home to our This is the Cash accounttold shareholders on Wednesday that trading continued to beat expectations in the fourth quarter.
Audioboom has been prompted to respond changes to Apple’s IOS operating system this year, due to ‘reduced inventory levels’ and $15 million in potential revenue for 2024.
It has ramped up activity in its High-Performance business, which allows promoters to create projects in five minutes through a self-service portal, according to Audioboom.
Display revenue in November was up 53 percent on the same period last year, with advertisers up 65 percent to 10,165.
It added global revenue per 1,000 downloads – a key performance measure – to $75.60, up 38 percent from $54.75 in November last year, as prices and applications continue to grow across the desktop’.
Audioboom has upgraded its earnings guidance three times since October 15 as its Display business continues to grow
Audioboom said the ‘continued success’ of its Display focus has lifted full-year revenue expectations to $73 million.
He now expects to post a full year’s worth of adjusted earnings before the $3.1 million, up leading $2.8 million in November and $2.5 million in October.
Audioboom also told shareholders that it expects revenue growth for 2025 to be ‘at least in line’ with industry growth forecasts of 10 percent, adding that the ‘high quality money’ will produce ‘significantly higher’ profits next year.
Boss Stuart Last said: ‘Our platform is producing higher quality products and extracting more value than ever before.’
Audioboom is distributed it increased 9 percent to 367.5pi of open space, which is up nearly 60 percent over the past 12 months.
Shares have lost more than 65 per cent since listing at 1,060p in December 2005, and more than 80 per cent from their April 2022 high of 2,260p.
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