Podcast platform Audioboom hits high note with 125 per cent revenue boost
Podcast publisher Audioboom recorded a revenue boost of 125 per cent this morning, making it the fourth largest publisher in the US.
Whilst podcasts have rocketed across the board, the platform outpaced the predicted wider industry growth by 108 per cent.
Average global monthly downloads hit 113 million for the fourth quarter, up 39 per cent from 2020 figures.
Its success isn’t just in the US, and podcast downloads in October 2021 reached a record 115.7 million. It is the second largest podcast publisher and third biggest in New Zealand and Australia respectively.
Platform highlights include No Such Thing As A Fish, True Crime Obssessed and Sue Perkins: An Hour Or So With.
Stuart Last, chief exec of the company, described the past year as a “phenomenal” one, led by its focus on content expansion and platform development.
Audioboom also undoubtedly benefited from the rise in listeners during the various coronavirus lockdowns, and this sustained interest is reflected in advertisers’ confidence.
Joseph Evans, Head of Tech at Enders Analysis, told City A.M.: “Advertisers and agencies have woken up to the potential of podcast advertising, and the money is pouring in. Podcast ad targeting and attribution has historically been pretty primitive, but it’s starting to catch up with other online ads.”
In turn, this has fed into advertisers seeing “value for money” in podcasts.
For instance, Audiobook has already booked more than $45m (£33m) of advertising for 2022, strongly positioning it for further growth.
Shares in the Nick Candy-backed company were up nearly over five per cent on the London Stock Exchange this evening.