Candy’s Audioboom Records Record Revenue

Audioboom Group plc, the podcasting company backed by property mogul Nick Candy, has announced record quarterly revenue it is latest trading update.

The company said trading was in ‘line with management expectations’ with record quarterly revenue of c.US$5.7m, up 86% on Q3 2018. It said total revenue for the nine months to 30 September was US$15.5m, up 127% on the same period last year.

There was also improvement in other key trading metrics and the company also noted its enhanced technology partnership with Voxnest, a new partnership with analytics and data company Nielsen and the opening of new recording studios and production facilities in New York City.

Stuart Last, interim CEO of Audioboom, commented: “We’re pleased to confirm another strong quarter of growth for Audioboom, cementing our position as one of the largest independent podcast companies in the world. New shows launched into our Audioboom Originals Network made a significant impact as we increased our commitment to creative bravery and solidified our marketing strategy. We continue to execute our strategy efficiently, proving our business model both in the US and the UK, and delivering dynamic growth across all our key performance markers.  Audioboom is in the strongest position since its founding, and I’m excited to lead this incredible team into a new phase, fully focused on driving the core business forward and delivering value to our podcast partners and our shareholders.”

The company’s CEO Rob Proctor resigned unexpectedly last week, leaving some concerned about what might lay ahead. However, the latest headline numbers at least seem to be broadly positive news for the business. Candy’s Candy Ventures owns around a quarter of Audioboom.

Source Audioboom Group plc
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