Podcast host Audioboom flies as Brits ramp up listening
Podcast host Audioboom today reported record quarterly revenues as bored Brits hoovered up shows.
Revenues spiked 40% to $6.4 million in the first quarter as advertisers stuck by the growing medium. The shares rose 13% to 176p.
Aim-listed Audioboom helps to produce popular shows such as No Such Thing as a Fish and Formula 1 podcast Beyond the Grid and also acts as a hosting platform.
Industry data last week showed that podcast listening had fallen in the US as fewer people commuted. But in the UK podcast listening is up, particularly in the news, politics and health genres, Acast data showed.
Audioboom said it had also been helped by the expansion of its original content, including the launch of For All Moms, Life's Little Mysteries, Noise Cancelling and Here's The Sitch. It has also partnered with magazine publisher Future on podcasts.
Audioboom chief executive Stuart Last said: "We are still developing an understanding of how Covid-19 will impact podcasting. Early indications are that we will see more caution from advertisers during Q2, although they remain committed to the podcast medium by increasing their levels of long-term support for proven networks.
“The board will continue to monitor these developments closely, but believes that Audioboom remains in a strong position."
