Notice of half-year results

RNS Number : 5204U

Audioboom Group PLC

13 July 2018

 

13 July 2018

Audioboom Group plc

(the "Company" or "Audioboom")

Notice of half-year results

Audioboom (AIM: BOOM), the leading spoken-word audio on-demand platform, announces that it will announce its half-year results for the six months ended 31 May 2018 on or around 20 July 2018.  These half-year results will contain the Company's key performance indicators ("KPIs") for the period.

The Board of Audioboom (the "Board") also notes the share price decline that has occurred since the restoration of trading in the Company's ordinary shares on 14 June 2018 and can confirm that it knows of no reason for this fall.

Since 27 April 2018, the Company has received over £5.5m from a placing and subscription with existing and new investors and the issue of convertible loan notes, which has strengthened the Company's balance sheet. The Board believes that this funding is sufficient to see the Company through to positive cash generation.

Operationally, the US now accounts for 95% of the Company's total revenue.  Between Q1 and Q2 of this financial year, US revenue per 1,000 downloads increased by 33% to $19.03. Audioboom Original productions continue to increase, with listens up 33% to 2.13 million from May 2018 to June 2018.

Rob Proctor, CEO of Audioboom, commented: "Audioboom is in the strongest operational and financial position in recent history and I confirm that we believe that we are now funded through to positive cash generation.

"The US KPIs indicate that AudioBoom's products and platform are flourishing in the largest podcasting market, and I look forward to providing further commentary in the coming half-year results."

Enquiries

Audioboom Group plc
Rob Proctor, Chief Executive Officer	Tel: [phone]
Allenby Capital Limited (Nominated adviser and Joint Broker)	Tel: [phone]
David Hart /Alex Brearley/Asha Chotai
Novum Securities (Joint Broker)	Tel: [phone]
Colin Rowbury/Jon Belliss
Walbrook PR Limited (PR & IR Advisers)	Tel: [phone]
Paul Cornelius / Sam Allen	or [e-mail]

About Audioboom

Audioboom is a global podcasting platform that consolidates the business of on-demand audio, making content accessible, wide-reaching and profitable for podcasters, advertisers and brands. Audioboom operates internationally, with operations across North America, Europe, Asia and Australia, and addresses the issue of disparate podcast services by putting all of the pieces of the puzzle together under one umbrella, creating a user-friendly, economical experience. 

Audioboom hosts over 12,000 content channels, with key content partners including A+E Networks (US), Associated Press (US), The BBC (UK), "Casefile True Crime" (AUS), CastBox Originals (US), Edith Bowman (UK), "Felon True Crime Podcast" (AUS), "Moneycontrol Podcast" (India), "News Roast" (UK), "No Such Thing As A Fish" (UK), "Pound for Pound with Jake Wood and Spencer Oliver" (UK), "Red FM" (India), Starburns Audio (US), "The Totally Football Show" (UK), "The True Geordie Podcast" (UK) and "Undisclosed" (US).

Original content produced by Audioboom includes "The 45th" (US), "Covert" (US), "I Almost Knew That" (India), "The Psychology Behind with Dr Linda Papadopoulos" (UK), "Ctrl Alt Win Podcast" (India), "Deliberations" (US), "It's Happening with Snooki & Joey" (US), "Mafia" (US), "Mission To Zyxx" (US), "Night Call" (US) and "The Russell Brand Podcast" (UK). 

The platform receives over 60 million listens per month and allows partners to share their content via Apple Podcasts, BookMyShow, Deezer, Google Play, iHeartRadio, Saavn, Spotify, Stitcher, Facebook and Twitter as well as their own websites and mobile apps.

For more information, visit audioboom.com.

 

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