Revenues double at listed podcast firm
Leading global podcast company Audioboom almost doubled its revenues in 2018.
The listed company grew revenues 92 per cent to $11.7 million in the 13 months to December 31st – compared with $6.1m in the period ending 30th November 2017 – while it also saw operating cash flow break even in final three months of the year.
It said the performance was particularly pleasing given the significant challenges that the aborted Triton Digital acquisition created during 2018.
"2018 posed exceptional challenges for the business, so it is hugely satisfying that our revenues have almost doubled,” said CEO Rob Proctor.
“Even more significant is the cash flow break even performance in the final three months of the period, achieved through higher revenues, continued cost control and improved financial processes.
"During 2018, Audioboom consolidated its position as the 'go to' platform for top talent and broadcasters such as Formula 1, Jonathan Ross and Heston Blumenthal, the latter two having launched podcasts with us in late 2018.
"The exciting results in the final three months of the period, 2019 pre-booked advertising campaigns and content acquisition pipeline are all pointing towards a further significant increase in company performance in 2019.”
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