Audioboom Second Quarter, First Half 2021 Revenues Rise
July 20, 2021 at 9:06 AM (PT)
Revenue and EBITDA both grew for AUDIOBOOM in second quarter and first half 2021, with U.S. revenue up 144% year-over-year for the quarter to $13.3 million and up 93% for the half to $22.8 million, both records for the company. Adjusted EBITDA went from a loss of $1.2 million for the half year 2020 to a profit of $200,000. Group loss narrowed for the half from $2 million to $460,000. As for global average monthly downloads, second quarter 2021's figure was up 25% to 92.1 million.
CEO STUART LAST said, "After a breakthrough first quarter of 2021 in which the Company reported a maiden adjusted EBITDA profit, the story of the second quarter is of accelerated revenue and EBITDA growth as our content-focused expansion strategy delivered increased value to the business. We have made a strong impact on the industry and podcast audiences during this period through our AUDIOBOOM ORIGINALS NETWORK launches, which has increased our standing in the industry as podcast creators. DARK HISTORY, RELAX!, THE SOUTHERN TEA and DARK AIR WITH TERRY CARNATION have all been commercial successes, with DARK HISTORY leading the charge as it hit number 1 on both the APPLE and SPOTIFY charts globally in JUNE 2021.
"The financial progress AUDIOBOOM has made will enable us to further invest in key areas of the business as we move into the second half of 2021. Expansion of our podcast production operation and the development of new advertising technologies are priorities, and we anticipate that both will deliver further growth opportunities for the remainder of this year and beyond.
"AUDIOBOOM is a leader in podcasting globally, and the performance in the first half highlights that the Group is increasingly capitalising on this market position to the benefit of shareholders -- thank you for your support."