Audioboom posts solid first-quarter results

The price of shares in AIM-listed podcast company Audioboom (LON:BOOM) rose by 3.91% to 2.39p (as of 14:05 BST) after it reported a 180% increase in revenues for the first quarter of 2019. Revenues per 1,000 listens climbed by 67% and premium advertising impressions were up by 28%.

CEO Rob Proctor commented: “We are delighted with our start to 2019. We have signed great new podcasts during Q1, are making compelling new content, F1: Beyond the Grid is performing exceptionally well, and we have industry leading sell through rates. Podcasting is now the growth sector in digital media for brands and broadcasters looking to consolidate or add podcast creation and content to their platforms and we are involved in more content negotiations and commercial opportunities than ever before. We are ideally positioned to benefit from this; and the continued corporate activity within the sector demonstrates Audioboom’s potential to deliver significant shareholder value this year“.